The Anti-inflationary Shield Extended by Three Months

The anti-inflationary shield will be extended by three months and thus will be in force until the end of October, according to the amendment adopted to the bill on assistance to borrowers.

The Importance of Anti-Inflation:

On Tuesday, the Public Finance Committee worked on a bill on aid for borrowers. It includes the possibility of introducing credit holidays (for four months this year and for four months next year). The committee accepted the amendment tabled by Marcin Po Rzekek, Law and Justice MP. It assumes that the operation of anti-inflation shields will be extended until October 31 this year.

The aim of the amendment is to extend the solutions introduced in the tax area until October 31, 2022, aimed at mitigating the effects of inflation – said Po Rzekek.

Deputy Finance Minister Piotr Patkowski spoke yesterday in an interview with Polsat News that the anti-inflationary shield will be extended by three months. – As long as inflation remains high, the shield will be extended – said the deputy finance minister.

When asked to what level inflation would have to fall to prevent the shield from being extended further, Patkowski said it was too early for such forecasts. According to the deputy finance minister, inflation will be reduced in the third or fourth quarter of this year.

Under the anti-inflation shields in force until the end of July, there is a lower VAT rate on fuels (8 percent instead of 23 percent). The VAT rate on electricity and heat is 5%, while the rate of this tax on gas is 0%.