Senate's amendments to VAT bill may cost the state billions in lost revenues

According to Rzeczpospolita, senators, both from the coalition and the opposition, have proposed almost another 200 amendments on top of the Sejm's 320, which will result in even lower VAT revenues. The Senate's changes include a proposition to reduce VAT from 22% to 7% on all food products, a step which would cost the budget over zł.4 billion. Finance Minister Andrzej Raczko said that proposed changes, if accepted, would result in a massive hole in the budget and that he will fight to the end to, "Return to solutions compliant with EU directives and beneficial for the budget". The final vote on the bill will take place on Thursday. (Rzeczpospolita, p. B1) E.B.