Polish parliament votes for raising tax on banks
The Sejm, lower house of the Polish parliament, has passed a bill raising the corporate income tax (CIT) on banks in a bid to stabilise public finances drained by increased defence spending.
The amended bill on income tax on legal entities and tax on certain financial institutions was passed on Friday, with 238 votes for, 187 against and 18 abstaining.
The bill increases the CIT on banks from 19 to 23 percent. In 2026, the rate will go up to 30 percent, to decrease to 26 percent in 2027.
At the same time, the tax on certain financial institutions (the so-called "banking tax") will be lowered from the current 0.0366 percent to 0.0329 percent of the taxable amount, and to 0.0293 percent starting from 2028.
The government sees the CIT increase for banks as a source of additional revenue amid growing defence spending, which Poland increased to 4.7 percent of the country's GDP.
The bill has been submitted to the Senate for consideration. The new CIT tax rate for banks is set to become effective on January 1, 2026, while the amended banking tax - on January 1 of the following year.
wpb/ mf/ ao/