Poland's government estimates hydrocarbon extraction proceeds at zł.17.6-20.8 billion in 2015-2029. The final amount will depend on specific conditions, according to a report describing the consequences of a proposed new tax.
Average annual proceeds from the tax are seen at zł.202-233 million in the first two years after the new tax regulation is introduced.
Total taxation of oil and gas extraction will amount to some 40 percent of companies' gross profits, according to the draft legislation. The proposed new law should be sent to the parliament by the end of June. The companies will have to pay the tax based on the value of extracted raw material, 5 percent for gas extraction, 10 percent for oil and 25 percent for hydrocarbons.
From Warsaw Business Journal
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