Poland to return to 22 pct VAT in 2017
May 30, 2014
The Polish government is holding on to its plans to cut the basic VAT rate to 22% in 2017, but may mull doing it earlier if fiscal situation allows, Finance Minister Mateusz Szczurek told broadcaster TVN 24.
The VAT will be cut "in 2017," but "if fiscal situation allows, perhaps it will be possible earlier," Szczurek said.
The basic scenario envisages that the excessive deficit procedure will be lifted in 2016, but if that happens earlier, it would open the door for an earlier tax rate reduction, the minister said.
The possibility of cutting VAT rates earlier was mentioned by Szczurek in April.
Poland's VAT rates at 5%, 8% and 23% have been in place since 2011.