New trade tax: higher allowence possible

Tax-exempt amount included in the new trade tax could be higher that initially presented, according to unofficial report by the Polish Press Agency (PAP). 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.