The Polish Government has decided to suspend the planned retail tax until the end of 2017.
According to a statement issued by the Government, the suspension will give authorities more time to work on a new version of the tax, and provide additional time for the European Commission to complete its investigation.
The tax came into force on 1 September, but was quickly suspended after the EC decided to open an in-depth investigation due to suspicions that it benefits some companies over others.
The tax determined that companies with a turnover between €17 million and €170 million would pay a monthly rate of 0.8%, while retailers with monthly revenues exceeding €170 million would have to pay 1.4%.
The largest retailer in Poland is Biedronka, owned by Portugal’s Jerónimo Martins. During the first half of 2016, it generated €4.68 billion in revenue, which gives an average of more than €750 million monthly.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
