Polish Parliament adopts basic PIT rate cut 

World

Photo by kolbet / Shutterstock.com

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. 

ADVERTISEMENT

World Hurtling Towards Recession and Possible Financial Cris... Analysis

World Hurtling Towards Recession and Possible Financial Cris...

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest targets tourists with public transport fare hikes City

Budapest targets tourists with public transport fare hikes

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.