The Ministry of Finance does not exclude the imposition of a tax on excess profits in case of “abuse of the status of individual economic entities in relation to […] said Artur Suboy, deputy minister in this ministry.

“If we are talking about a tax on excess profits, I do not rule out such a solution, that is, if we see it […] That it will be an effective tool to respond in a situation where the position of individual economic entities is abused due to this external situation, abused in order to obtain excessive profits at the expense of our customers, then we can respond, it is not a taboo subject for us ”- said Soboń on Polish Radio 24 When asked about the possibility of taxing excess profits.

On Saturday, Yaroslav Kaczynski, Head of Law and Justice, informed of the possibility of imposing such a tax. In his opinion, “Either the state-owned enterprises themselves will get rid of these huge profits, that is, they will lower prices, or – in relation to the banks – they will raise interest rates on deposits, and they will increase significantly. Or they will be charged with a “big tax”.

This tax – he emphasized – will only be imposed in exceptional cases, for example when a company is running a large investment program, funded from its profits.

It did not specify precisely which state treasury companies would be taxed on extraordinary profits.

The head of the Law and Justice Party had previously announced the possibility of imposing taxes on bank profits if there was no increase in interest rates on deposits.

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The tax on extraordinary profits was introduced, among other things, by Italy (taxing additional profits of energy companies (initially 10% and now 25% if they were at least 10% higher than in the same period the previous year and amounted to Over 5 million euros) and Hungary (extra tax will be charged) in 2022 and 2023 on additional profits for energy companies and banks), work is underway in the UK (a 25% fee will be charged on excess profits for energy companies.) Also being considered is the introduction of Such a tax by the United States, discussions are also underway in Germany.

Source: ISBnews