PiS to lower tax on insurers

The ruling party PiS has proposed an alteration to the tax on insurers by lowering the tax rate to 0.39 percent from the initial 0.5 percent and to set a threshold at PLN 2 billion instead of PLN 4 billion, PiS MPs suggested during works in the public finance commission. Poland will tax banks' assets with a monthly rate of 0.0325 percent (0.39 percent a year) and insurers assets at 0.05 percent a month, starting on February 1 when the law is expected to come into force. The Ministry of Finance said that it doesn't oppose changes.