New trade tax: higher allowance possible

The tax-exempt amount included in the new trade tax could be higher than initially presented, according to unofficial reports from the Polish Press Agency (PAP). The draft will be discussed shortly. In late January, the Ministry of Finance announced that it wants to impose a new progressive tax on retailers of 0.7 percent on revenues of up to PLN 300 million and 1.3 percent on the surplus above that sum. Poland also wants to levy a 1.9 percent tax on revenues generated on weekends and other holidays. The project stipulates that PLN 1.5 million will be tax-free. The Ministry said that the new tax should bring in PLN 2 billion in revenues in 2016.