WARSZAWA, March 24 (Reuters) – Poland’s Prime Minister Mateusz Morawiecki on Thursday proposed legislation to lower the personal income tax rate from 17% to 12% in response to the economic impact from the conflict in Ukraine.
When asked how much the reforms would cost, he said that it could increase the budget deficit by half a percentage point.
“Due to the negative influence of the conflict in Ukraine, the government is planning changes to the tax system which will leave taxpayers with around 15 billion zlotys more in their pockets. However, the budget deficit could go up by about 0.5 of a percentage point,” Morawiecki said on Thursday.
He added that a tax exemption for the middle class, which had faced earlier criticism for its complexity, would be eliminated.
Photo – Polish Prime Minister Mateusz Morawiecki. EPA-EFE/JACEK SZYDLOWSKI
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