Polish PM promises tax help for business

Companies in Poland with a turnover of up to PLN 50 million (USD 12.6m, EUR 11.2m) will not have to pay Corporate Income Tax until they turn a profit, Prime Minister Mateusz Morawiecki announced on Wednesday.

PM Mateusz Morawiecki

PM Mateusz Morawiecki Photo: PAP/Piotr Nowak

Morawiecki said the new system would cover 97 percent of companies in Poland, adding that it would be an “entrepreneurship incubator.”

He added he hoped the new rules would come into force in around half a year.

„Any entrepreneur who decides to invest, to develop, a Polish entrepreneur or foreign entrepreneur who decides to conduct business in Poland, will have ideal conditions for development. This will be a real entrepreneurship incubator for the whole of Poland,” Morawiecki said.

The move was announced on the heels of a swathe of measures launched by the Polish government to help businesses and save jobs amid a COVID-19 epidemic.

Poland’s president at the end of March signed into effect a multibillion relief and stimulus package aiming to shore up the economy and shield it from the impact of the coronavirus.

(pk)

Source: PAP

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