Poland covers silver with provisions analogous to those applicable to copper mining

The Ministry of Finance agreed on an amendment to the act on tax on the extraction of certain minerals, which aims to reduce the tax burden on copper producers to enable the implementation of investment plans related to the role of copper in the transformation of the economy as a key product for clean energy technologies.

"Silver has been covered by legislative solutions analogous to those for copper mining (while maintaining the scale of the financial impact of the proposed regulation)," the ministry stated.

In addition, in the latest version, the coefficient has been reduced from the assumed level of 1 to 0.85, while maintaining the scale of the financial impact of the proposed regulation, which has resulted in a reduction in the amount of expenditure that taxpayers can deduct as eligible investment expenditure from 50 percent to 40 percent.

The amount of the deduction for eligible investment expenditure has also been reduced from 40 percent of the tax on copper extraction to 30 percent of the tax on copper and silver extraction.

In addition, the period during which eligible investment expenditure can be deducted from tax has been extended from 5 to 15 years, since investment projects in the field of copper and silver mining are long-term and costly.

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