MF: Project on retail tax bill will be ready next week

The retail tax bill project will be ready by the beginning of next week, Finance Vice-Minister Leszek Skiba told the press on Tuesday. He added that it is too early to determine how the bill's proposed method of taxation will change (whether it will be a linear or a progressive tax). Earlier in February, head of the Permanent Council of Ministers Henryk Kowalczyk revealed, that the government may opt for a linear tax with a higher exemption amount. Currently, the bill calls for a sales tax on all retailers with monthly revenues over PLN 1.5 million, with a 0.7 percent fee on revenues up to PLN 300 million, and 1.3 percent above that figure. For weekends, the fee would rise to 1.3 percent for business with revenues of up to PLN 300 million, and 1.9 percent above. The government estimated that such a tax could bring in an additional PLN 2 billioN in budgetary income in 2016.