Polish Parliament adopts basic PIT rate cut 

World

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Poland's Parliament (Sejm), the lower house of parliament, on Thursday voted in favor of reducing the Personal Income Tax (PIT) rate to 12% from 17% as of July 1, 2022.

Under the adopted bill the tax threshold of PLN 120,000 (EUR 25,718) and the tax-free allowance of PLN 30,000 (EUR 6,430) will remain unchanged.

At the same time, some entrepreneurs will be able to deduce a part of healthcare insurance premiums from their tax base.

According to the government, the tax changes, whose annual cost has been estimated at PLN 15 billion (EUR 3,21 billion), will be beneficial to some 13 million Polish taxpayers. 

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