Domestic
17:16 14 December 2019
Post by: WBJ

New trade tax will not come into force at least until July 2020

New trade tax will not come into force at least until July 2020
source: Pixabay

The Sejm adopted an amendment related to the planned retail sales tax on Thursday. Yet, the tax will not enter into force until at least July 1, 2020. Originally, Poland planned to impose a new tax on retailers from September 2016. However, the European Commission initiated proceedings for violation of EU law in connection to this initiative.

Under the suspended act, the tax will be paid by sellers who have achieved revenue from retail sales above PLN 17 million in a given month. There are two tax rates: 0.8 percent from the excess of income above PLN 17 million to PLN 170 million per month and 1.4 percent from the excess of sales revenue over PLN 170 million per month. The act does not apply to online sales.

(Business Insider)

retail
trade tax

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