Poland will cut taxes on gasoline from next month to protect consumers from the explosion of inflation, the prime minister said on Friday, a measure that will cost 1.5 billion zlotys ($ 372.42 million) per quarter.
The decision to reduce VAT on petrol to 8% from 23% follows previous tax cuts on petrol, gas and electricity to help Poles cope with the fastest price increase in more than two decades.
“This is another action … to help Polish families and Polish businessmen in their daily lives,” Mateusz Morawiecki was quoted as saying by Interia. “After all, the price of fuel translates into the vast majority of prices.”
Morawiecki said the tax cut would reduce the price of a liter of petrol to about 5 zlotys, from about 5.70 now, effective from February 1, and will initially apply for six months.
Morawiecki also said that a previously announced plan to reduce VAT on basic foodstuffs to zero would cost 6-7 billion zlotys a year and that details on when it would take effect would be announced next week.
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Source From: Capital
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