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Poland Should Maintain Hiked VAT Rate, IMF Says

by Ulrika Lomas, Tax-News.com, Brussels

21 July 2017


Poland should maintain an increase to its value-added tax (VAT) rate that was introduced in 2011 beyond 2018 until higher revenues from tax administration reforms are realized, the International Monetary Fund (IMF) has said.

The IMF said that the country should also consider removing some preferential rates and tax exemptions, "given the large VAT policy gaps."

Meanwhile the IMF said that Poland should monitor whether its bank assets tax was having a negative impact on the activities and risk profiles of the institutions. It said that a tax on profits and remuneration "would be less distortionary than a tax on assets."

Elsewhere in its report for the country, the Fund said that plans to restructure the country's tax authority "could distract efforts from the fight against tax evasion and fraud."

On July 12, the Polish Government proposed a "minimum levy" on certain commercial property owners as part of a package of new measures largely designed to curb tax avoidance and raise additional revenue.

TAGS: tax | value added tax (VAT) | tax avoidance | International Monetary Fund (IMF) | tax authority | Poland

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