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Polish Retailers Drop as Amid Plans Fast Return to Sales Tax (1)

July 2, 2019, 10:19 AM; Updated: July 2, 2019, 3:43 PM

Poland’s biggest retailers fall as the government pulls forward plans to restore a controversial sales tax to September.

The Polish cabinet updated its legislation agenda on July 2, which includes fast-tracking a levy that was suspended for three years amid a European Union probe on whether it constituted illegal state aid. In May, Poland won a challenge against the European Commission’s ruling, giving it the green light. Many had expected the country to wait until next year to introduce the tax.

Shares in Jeronimo Martins SGPS SA, which runs country’s biggest food-store chain Biedronka, dropped as much as 4.9% in...

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