Polish finance minister resigns as new tax system stumbles

By AP News

Share:

WARSAW, Poland (AP) — Poland's finance minister has resigned over “shortcomings” of the new tax system that has led to lower net pay for many professionals, Poland’s main ruling party said Monday.

WARSAW, Poland (AP) — Poland's finance minister has resigned over “shortcomings” of the new tax system that has led to lower net pay for many professionals, Poland’s main ruling party said Monday.

Finance Minister Tadeusz Koscinski was taking responsibility for the much-criticized tax system and his resignation has been accepted by the party leadership, said Anita Czerwinska. the spokeswoman for the Law and Justice party. She spoke following hours of closed-doors debate by the party leaders, including party head Jaroslaw Kaczynski and Prime Minister Mateusz Morawiecki.

Morawiecki will also be acting finance minister until a replacement is found.

The decision comes at a time when deep rifts have been exposed in the main party of Poland's right-wing government and when the position of Kaczynski, the main policy-maker, seems to be weakening. The unpopular tax system, sky-rocketing prices for energy and staple goods, and revelations of Pegasus spyware surveillance of government critics have cut support for the ruling party to the lowest levels in years.

The new Polish Order tax system took effect on Jan. 1, aiming to raise net earnings for those with low or modest incomes. The government was advocating it, saying it will benefit almost 80% of Poles.

However, the complex rules and lack of clear guidance resulted in many professionals getting less money and the government has been scrambling to patch up the system.

Last week Kaczynski admitted that those implementing the new tax system “did not have it fully under control.”

Share:

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for VTM Updates

Form submitted successfully!

VTM Exclusive Reports

Crypto Corner

Learn your NFTs from your BTCs