Poland reaffirms plan to further cut CIT for SMEs
PR dla Zagranicy
Poland’s ruling conservatives have reaffirmed a plan to cut corporate income tax (CIT) for small and medium-sized enterprises (SMEs) across the country from 15 to 9 percent.
Image: geralt/pixabay.com/CC0 Creative Commons
Jacek Sasin, a Cabinet minister who heads the Government Standing Committee, said on Thursday that the Polish government was determined to go ahead with the cut to offer "a further injection of funds” to sole proprietors and others who run their own businesses, after an earlier reduction of the CIT rate from 19 percent to 15 percent.
When Poland's Prime Minister Mateusz Morawiecki first announced the planned new cut in April, experts said the proposed 9 percent tax rate would be the lowest in the 28-nation European Union.
Speaking at a political convention at the time, Morawiecki said his conservative government was instituting a slew of measures to make life easier for the country’s businesspeople. In addition to cutting taxes, Morawiecki said the government was lowering social insurance contributions for small businesses.
Sasin told public broadcaster Polish Radio on Thursday that “regulations already in place have led to Polish small business owners having more than PLN 320 million (EUR 74.6 million, USD 87.3 million) left in their pockets.”
He added: “We are now readying a further injection of funds for people who run their own businesses.”
Jacek Sasin. Picture: Polish Radio
A package of regulations designed to help businesses by cutting red tape and making life easier for entrepreneurs took effect in Poland in late April.
The regulations, which aim to simplify procedures for people setting up and running their own businesses, have been collectively referred to as a "constitution for business."