Poland Proposes Windfall Tax Rate of 50%: Minister Sasin

Poland proposes to tax utilities’ windfall profits at 50% rate, State Assets Minister Jacek Sasin says in TVP interview.

• NOTE: Poland Plans $2.8 Billion Tax on Utilities to Curb Energy Costs
• Government will discuss the proposal next week and parliament could pass the bill in coming weeks
• Ministry proposes additional tool that could cut electricity price on commodity exchange by about 30%
  • Under the new mechanism the power price wouldn’t be linked the price offered by gas-fired plants, which is the highest at the moment
  • If introduced, it could cost the country’s largest power utility PGE between 10b zloty and ...