Poland Parliament Passes Bill to Require Solidarity Contributions on Coal Company Windfalls

The Polish Parliament Aug. 16 passed Bill No. 3487, 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; 2) define excess profits as 120 percent of average income earned over the previous four years, and provide a calculation formula; 3) describe in-scope taxpayers, such as businesses engaged in exploitation of hard coal or lignite deposits based on a concession; ...