Poland Cabinet Approves Bill to Require Solidarity Contributions on Coal Company Windfalls Due to War

The Polish Chancellery of the Prime Minister July 10 announced Council of Ministers approval of a draft bill to require large coal companies to pay solidarity contributions on excess profits, primarily due to the ongoing Russia-Ukraine conflict and increased energy prices. The bill includes measures to: 1) require entities that mine, produce, or trade coal, to pay a 33 percent solidarity contribution on excess profits earned in 2022; and 2) define excess profits as 120 percent of average income earned over the previous four years. The proposed solidarity contribution is intended to partially finance the reduction of electricity prices for ...