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English Section

Poland to hike tax on alcohol, cigarettes

15.11.2019 06:00
Poland’s government has backed a plan to increase excise tax on alcohol and tobacco products by 10 percent, according to reports.
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Pixabay LicenseImage by Free-Photos from Pixabay

The government adopted the plan on Thursday and sent it for approval to the lower house of parliament, Poland’s PAP news agency reported.

The move is expected to generate an extra PLN 1.7 billion (EUR 400 million, USD 440 million) for state coffers next year.

If approved by both houses of parliament and signed into law by the president, the new rules are expected to take effect on January 1.

Poland's government in September approved a balanced budget for 2020 that expects the economy to grow 3.7 percent, with inflation targeted at 2.5 percent.

Government ministers have approved a deficit-free budget with revenue and spending balanced next year at PLN 429.5 billion (EUR 98.3 billion, USD 109.1 billion).

Prime Minister Mateusz Morawiecki said in August that Poland’s 2020 budget would be the country’s first without a deficit since the fall of communism and the start of market reforms three decades ago.


Source: PAP