Poland may yet suspend metals tax, will decide at end-Dec.

Poland is still ahead of a final decision on suspending the metals tax, with decision likely to be made by end-December, the cabinet’s standing committee head Henryk Kowalczyk told broadcaster TVN 24 BiS.

“It will be confirmed by the end of December … if it is possible or not possible,” Kowalczyk said of a potential suspension of the metals tax, earlier postulated by his party PiS.

A decision on tax suspension might be made at any time during the year, the minister also noted. “A tax reduction is possible at any moment.”

Revenues from the tax were included in the draft budget bill approved by the cabinet, Finance Ministry’s spokesperson Wieslawa Drozdz told PAP on December 2.

Governing party PiS has repeatedly signaled it could modify or abolish the metals tax. The most recent comments from deputy Prime Minister and Development Minister Mateusz Morawiecki suggested the tax could be made “more anticyclical.”

Poland targets PLN 1.45 bln in 2015 revenues from metals tax.

Poland introduced the metals tax in mid-April 2012 and collected PLN 1.43 bln that first year, PLN 1.92 bln in 2013, PLN 1.43 bln in 2014 and PLN 1.23 bln in the first nine months of 2015.

Election winner PiS promised to abolish the metals tax during the election campaign. At the end of the previous term of office the party submitted a bill which would exempt the production of copper and silver from taxation from January 1, 2016 to end-2026.

ami/ mbn/

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