Polish Parliament Approves Corporate Tax Hike for Banks

Polish parliament approved bill raising corporate income tax for banks to help strained budget.

• The bill will now be vetted by Senate and needs to be signed by the President, a political opponent of the government who has repeatedly said he won’t agree on tax increases for households
• Lawmakers from opposition Law & Justice and Konfederacja parties voted mostly against the bill
• NOTE: Government seeks to boost corporate tax rate for banks to 30% next year, 26% in 2026 and 23% from 2027 compared with 19% now, expecting to raise additional 11.3 billion zloty in the next 2 years; the ...