Poland Proposes $2.4 Billion Tax Cuts to Tame High Inflation (2)

Nov. 25, 2021, 2:05 PM

Poland will temporarily cut taxes on household energy bills in a bid to help the central bank stem surging inflation that has become a major concern for the nationalist ruling party’s electorate.

The government rolled out a 10-billion-zloty ($2.4 billion) plan to lower the value-added tax on electricity and gas for three months from January. It will also reduce the excise on fuels for five months and make a one-off compensation payment to about 5 million households for higher food prices.

“We’re responding to market challenges, to energy prices, which went wild on global markets,” Deputy Prime Minister Jacek Sasin ...

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