Will positive change in tax laws for small businesses help boost the economy?

The government adopted proposals to amend the tax law to help boost the economy and encourage businesses to buy new investment goods. The draft amendments seek to introduce new ways to calculate depreciation which would allow 30% depreciation to be calculated in the first year. Advance payment regulations will also be modified and it will be possible to make a monthly advance payment at the amount depending on the tax rate specified in previous declarations, without making a new declaration. Tax offices will exempt those who start their business for the first time from making declarations and advance payments. The changes in the law on the flat rate of income tax might create more favorable conditions for small and medium-size enterprises, whose owners will no longer have to inform the tax office about what form of taxation they have chosen. It is also expected that the sum entitling to those to flat rate tax payment will be raised to an equivalent of euro 250,000. (Prawo i Gospodarka, p. 10) K.S.