Retail tax to come into force on September 1

Head of the council of ministers standing committee Henryk Kowalczyk told PAP that Poland expects the retail tax to enter into force as of September 1 at the latest, versus the planned August 1 introduction. "Whether it will enter into force as of August 1? It could be problematic, but it will take effect on September 1 at the latest," Kowalczyk said. "I hope that at the next sitting the lower house will adopt the bill, it will be sent to the Senate and at the end of July it will return to the lower house, with potential amendments from the upper house, and then will be sent to the President," Kowalczyk enumerated. After many weeks of working on the final shape of the retail tax, the Ministry of Finance has opted for two rates of 0.8 percent for turnover between PLN 17 and PLN 70 million and 1.4 percent for turnover above PLN 170 million, with PLN 17 million tax-free turnover.  A draft bill will be sent to the standing committee of the council of ministers, the Polish Press Agency said. Poland would receive PLN 630.2 million gross and PLN 510 million net from a retail tax, if the levy comes into force in August, the Ministry of Finance announced in May.