On September 24th, 2022, the Deputy Prime Minister and the Minister of State Assets (MAP) announced the introduction of taxation of windfall profits of State Treasury companies and private enterprises.
The expected proceeds from this tax are to be used to mitigate the effects of rising energy prices. It is to be a completely new tax, introduced alongside CIT or VAT. Based on the currently provided information, the structure resembles a special hydrocarbon tax.
The Deputy Prime Minister announced that he would introduce to the government's deliberations a draft of solutions concerning the taxation of windfall profits of State Treasury companies and private enterprises.
MAP plans to present a new solution for mitigating the effects of rising energy prices at the next government meeting, which is announced on Tuesday, September 27.
MAP estimated that the revenues to the state budget from the new tax for 2022 will exceed PLN 13 billion per year. The money obtained from the new tax is to be allocated entirely to solutions protecting households, local governments and institutions that are sensitive to rising energy prices. According to media reports, the proposed tax is to amount to 50% of the windfall profits.
Currently, there are discussions whether the new tax will be imposed on all sectors of the economy or only the energy sector. Detailed information on the method of calculating the tax base with the new tax and potential exemptions or exclusions are not yet known. According to the findings of "Rzeczpospolita", the tax is intended for all companies employing over 250 people and having an annual turnover of more than EUR 50 million.
We monitor further steps related to the implementation of the new tax. We will keep you updated on the next steps to implement it.
Autorzy:
