POLISH PM TUSK: EXCISE TAX TO BE CUT TO MINIMUM
17 Articles
17 Articles
Against the backdrop of rising world prices.
The Polish government decided to lower the value added tax (VAT) and excise tax on fuel to protect drivers from the sharp rise in prices due to the war in the Middle East.
Prime Minister Donald Tusk announced that Poland will reduce the VAT on fuels from 23% to 8% and will reduce access to the minimum level allowed by EU standards in order to counter the increase in the prices associated with the conflict in the Gulf, reports TVPWorld.
As news from the Middle East and oil prices above $100 per barrel once again shock European markets, governments in the region are faced with a choice: protect the state coffers or protect consumers’ pockets. In Poland, Donald Tusk’s government has taken a step that is considered taboo in Hungarian budget planning: they have cut the Gordian knot with drastic VAT and excise tax cuts. At home, meanwhile, the “protected price” and the 20-forint pha…
The Sejm unanimously passed a bill on Friday allowing the Minister of Finance to reduce the excise tax rate on fuels by regulation until June 30, 2026. This reduction is to be implemented for the time necessary to mitigate the effects of the war in the Middle East. The government wants the measures to take effect before Good Friday. This amendment to the excise tax law was approved by 436 members of parliament, with no votes against or abstentio…
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