Poland to retain high 23% VAT till at least 2017
- European News
- Sep 6, 2014 | Richard Asquith
Poland is set to retain its high VAT rate of 23% until at least 2017.
Poland hiked its VAT rate from 21% to 23% in 2011 during the height of the financial crisis as its key Euro-currency trading block slipped into recession and government revenues from corporate income tax fell. At the time, it was envisaged that this would be a temporary rise until 2015.
There were rumours that the relative strong performance of the economy would mean Polish VAT could be reduced in 2016. However, the latest statements this week from the Finance Ministry have indicated that this will not happen until at least 2017 or later.