NEW LAWS: Amendment to the CIT law

Purpose: Reduces the corporate income tax rate from 28% to 27% in 2003. This amendment changes the timetable for gradual reduction of the CIT rate established in 1999. The timetable foresaw a CIT rate of 28% for 2001 and 2002, 24% in 2003 and 22% in 2004. Affected: All companies paying corporate income tax Timing: Signed by the President in November and awaits publication in the Dziennik Ustaw.