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Polish PM Tusk wants to scrap capital-gains tax

Polish Prime Minister Donald Tusk was quoted as saying on Saturday he favored doing away with his country’s current 19% capital-gains tax by the end of 2011, the end of this parliament’s term.

The elimination of this tax is a key pillar of Tusk’s government platform. Tusk said he first wanted to eliminate a tax on earnings from savings accounts and certificates of deposits in the first half of his term and then the tax on stock-market gains by the second half, according to PAP news agency. Poland’s Finance Minister Jacek Rostowski had said earlier he opposed abandoning the capital-gains tax. The capital-gains tax to which Tusk was referring, called “the Belka tax,” was enacted in March 2002 by then post-communist Finance Minister Marek Belka. Tusk also told PO leaders he wanted Rostowski to draw up a comprehensive tax plan to eliminate the dual taxation of Poles working abroad. An estimated 2 million Poles have worked in the British Isles and elsewhere in the European Union since Poland joined the community in May 2004. (Reuters)