Poland Suspends Planned Levy On Retailers
Poland has reacted to a probe opened by the European Commission, by suspending the controversial tax on retailers.
According to the plans, retailers with monthly revenue of between PLN 17 million and PLN 170 million would pay a monthly tax rate of 0.8 per cent, while those with over PLN 170 million would pay a 1.4 per cent tax. Companies with a monthly turnover below PLN 17 million (€3.9 million) would be exempt.
The country’s Finance Minister, Pawel Szalamacha, considers the decision by Brussels to be "controversial" and "reckless" and announced his intention that the tax will be implemented from 1 January 2017.
In recent days, news emerged of the possibility that Poland would move forward with a single tax rate to be applied to all retailers and that will be around 0.8 per cent of revenues.
The largest retailer operating in Poland is Biedronka, owned by Portugal’s Jerónimo Martins. The Polish market accounts for 81 per cent of the company’s value.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.