Little change to personal 2004 taxes can be expected

The Finance Commission yesterday was working on amendments to the Personal Income Tax (PIT) bill, and voted over tax brackets which will be introduced as of January 1, 2004. The government has proposed tax steps of 19%, 30%, and 40%, just like the current ones, and brackets of zł. 37,024 and zł. 74,048, which are the same as those valid for this year. However, the amendment envisages an increase in the tax-free sum from the current zł. 530 to zł. 601 Witold Hatka, a member of the Polish Families League, proposed a tax rate of 85% for those earning above zł. 192,000 annually, a motion which was rejected. The government pushed its idea of introducing a capital gains tax of 19%, but the Commission suggested that the its introduction be delayed by about six months to mid 2004. The final decision will be made by the Sejm. Today the Commission is to finalize its works on PIT issues. (Gazeta Wyborcza, p. 23)