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Poland Proposes New Tax On Retail Sales

Published on Jan 26 2016 11:03 AM in Retail tagged: Carrefour / Poland / Tesco / Jerónimo Martins / Biedronka / Schwarz Group

Poland Proposes New Tax On Retail Sales

Poland’s Minister of Finance, Pawel Szalamacha, has announced that the government plans to introduce a new tax on retail sales.

According to the draft law, operators with sales of up to PLN 300 million (over €67 million) per month will pay 0.7 per cent tax, while the rate for companies with a turnover of over PLN 300 million will be 1.3 per cent.

In addition, a rate of 1.9 per cent will be applied to the turnover generated on Saturdays, Sundays and holidays.

The Polish Government anticipates that the state budget will receive over PLN 2 billion in 2016 through the new tax, which will help fund social initiatives.

The measure will have an impact on foreign retailers present in the country, including Tesco, Carrefour, Schwarz and Jerónimo Martins.

The Portuguese retailer is present in the local market through its hard discount brand Biedronka, which last year reported over PLN 3.2 billion in sales (€715.9 million), accounting for over 60 per cent of total group sales.

A company source told daily Diario Economico that it is still too early to comment, as the draft law will now be submitted to the Office of the Prime Minister.

© 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.

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