Polish Finance Minister Andrzej Domański announced plans for a tax on excess profits, expected to yield over 4 billion złoty, potentially impacting companies like Orlen.
Excess Profit Tax Planned
Finance Minister Andrzej Domański stated on Wednesday in Radio ZET that revenues from the excess profit tax are projected to exceed 4 billion złoty. He indicated that Orlen is among the companies that could be subject to the tax.
Domański explained that the government plans to introduce additional taxes for companies benefiting from the current situation, specifically referencing the war in the Middle East. Work is underway at the Ministry of Finance to implement the tax as quickly as possible.
Company Scope and Fuel Tax Considerations
When questioned about which companies might be affected, Minister Domański confirmed that Orlen would certainly be considered for the tax.
He also addressed inquiries regarding the continuation of reduced fuel taxes and maximum fuel prices – the CPN program – into the summer months. The period of reduced taxes was recently extended to mid-May, and the situation is currently under analysis.
New Cryptocurrency Regulations
Domański announced that a third proposal for regulating the cryptocurrency market is forthcoming.
The new proposal, currently being developed at the Ministry of Finance, will focus on enhanced investor protection and increased penalties for potential fraudsters. Experiences with Zondacrypto should encourage a more restrictive approach to the market, according to the minister.
Disagreements Over Tax Proposals
Domański also responded to a proposal by Katarzyna Pełczyńska-Nałęcz, Minister of Funds and chairwoman of Polska 2050, to allocate funds from an alcohol excise tax increase to healthcare.
He stated that this project was not consulted with him, emphasizing a coalition agreement requiring consultation on tax proposals and significant expenditure plans. He also noted that further projects regarding excise duties, sugar taxes, and the sugar levy are planned as government initiatives.
Domański reminded listeners that President Karol Nawrocki vetoed a previous proposal for an excise tax and sugar levy increase.
Tax Bracket Adjustments Under Review
Regarding a proposal from Polska 2050 to raise the second tax bracket (currently 120,000 zł), Domański stated that the government has significant budgetary needs and a large deficit, and such an increase would cost 11 billion złoty.