Discussing Poland Tax Changes on Economic Forum

Another discussion on tax changes at Economic Forum was organized under the “Polish Order” and it was concluded that tax changes shall be planned and communicated several years ahead. The Liquidity of Enterprises and Legal Stability in the Age of Increased Uncertainty are of utmost importance as well. This influences the predictability of running a business and allows for a more precise determination of the state budget revenues.

In addition to predictability, the experts also explained to the representative of the Ministry of Finance the effectiveness of broad consultations on tax changes with the market at the economic forum.

What are Major Updates at the Economic Forum:

As Świątkowski explained the wish of the officials of the Ministry of Finance is for the law to be stable and predictable. At the same time, they are faced with constant change, for example, the outbreak of a pandemic has forced them to take actions that could by no means be predicted in advance.

Every day, they are bombarded with dozens of inquiries, postulates, goals, etc. from individual industries. If they initiate changes in regulations, they try to make them the result of a compromise by balancing various arguments.

Adoption of a social contract concerning the introduction of new law at the Economic Forum with consultations, dissemination, and respect for the principles will create conditions for forming a law that will be refined, with a more accurate forecast of the effects of its implementation – indicated Prof. Konrad Raczkowski, an economist from the Social Academy of Sciences.

In addition, both businesses and officials do not experience shocks from introducing sudden changes. All European countries regulate it in the regime of the so-called excise maps that anticipate changes three years in advance.

Adherence to this type of procedure turns out to be a great benefit not only for taxpayers, e.g. for producers of electricity, alcoholic beverages, and tobacco products, but also for public finances.