1st February 2012
Monday, May 21st, 2012
Controversial mining tax postponed
Deputy Minister of Finance Maciej Grabowski has announced that the planned copper and silver tax proposed by Prime Minister Donald Tusk in November of last year will not come into effect on March 1, as initially expected, reported Parkiet.
The new date will be determined by the parliamentary schedule.
When introduced the new tax will mainly affect KGHM, Poland’s sole producer of copper and silver. The government estimates that the new tax will add about zł 1.8 billion to the budget in 2012, and over zł.2.2 billion in the future.
KGHM has argued that the tax is unsustainable and will force the firm to limit investment and takeover plans.
From Warsaw Business Journal
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Poland,Canada to cooperate on energy
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