Poland passes 70% tax on severance pay

The lower chamber of parliament has passed a law to levy a 70 percent tax on severance packages for CEOs of state-owned companies. The original proposal set the tax limit at 65 percent, but a parliamentary finance committee amended the law and increased the rate to 70 percent. The bill was supported by 282 MPs from Law and Justice (PiS), Kukiz'15 and PSL. The tax would apply after exceeding the threshold of the value of three month's salary or six month's salary in the case where the package includes compensation for a non-complete agreement.