At the end of the week the government praised the achievements of the first hundred days. But some key announcements from the campaign will probably modified due to the excessive cost to the budget.
tax trade: no one is happy
tax on retail sales so far the largest failure of the government. Not only delayed its introduction – as a big question mark puts the implementation of the plan gaining 2 billion zł for the budget – but also leads to a big social resonance. The government first had to deal with the protest a particular occupational group and that this, as requested by the election. The tax was to be one of the pillars of program funding PiS, the party put it in his program next to a bank tax.
– Ministry of Finance on Monday or Tuesday will present a new project. As for the main objectives, they should be consistent with what we agreed at the meeting of the dealer – says Minister Henryk Kowalczyk, the head of the Standing Committee of the Council of Ministers.
emphasizes that it is the traders as the first project will receive and have expressed themselves on this issue.
What will it find? Representatives of the Ministry of Finance promise not to tax commerce on the Internet. If the project will be responsible merchant demands, you probably see a project with a stake of line with the high amount of free. Members of the parliamentary group for the promotion of entrepreneurship and economic patriotism want eg. The rate of 0.9 percent. with a free amount of 200 million zł turnover per year. With such a construction tax would pay actually only the largest stores.
It is already known that the project will be a new definition of a franchise network exempt (heralded earlier MF – tax will be charged on affiliates financially or personally). The Ministry of Finance also dispenses with a special higher tax rate trading at weekends – at least on Saturdays. Until the last moment resort hesitated to leave specstawkę the turnover achieved on Sunday.
tax may still be applied only to retail sales to consumers (individuals). As indicated already in the DGP, it may be a potential loophole in the new rules. There will not charge for the tribute at wholesale to businesses. It is not clear how and whether he has a duty to verify whether the customer buys the goods for personal purposes, or company.
Law Franková: hot potato
It is unlikely that survived without changes to the design of conversion of foreign currency loans, which in the initial version of the President’s Office announced. Financial Supervisory Commission collects data from banks about the potential financial impact of this law. Polish National Bank has calculated them already about 44 billion zł losses across the banking sector.
Representatives Office in informal conversations admit that if the calculation of the NBP confirmed the Financial Supervision Authority, the project will need to be changed.
– the most important for the president is to maintain the stability of the financial system. The President did not propose anything that would disrupt this stability – says our source from the office. In his view, the current draft should be treated only as a starting point for discussion. Talk indeed already underway, including among government ministers.
The government offices are considered the directions in which they might go change. Main objective: to reduce its costs. This can be done, among others, compacting screen for eligible – eg. only to loans for the first house. Or enter the firewall in the form of a level of LTV, or loan to value of the property. Another indicator could be a debt to income – the ratio of the debt under the loan-to-income. This would eliminate the system of wealthy people and the least burdened by debt.
Reducing costs is the main goal, not only because of concerns about the stability of the system, but also because of the immediate needs of government policy. Calling losses in banks of 44 billion zł (as calculated NBP) means that the budget does not get in the sector penny of income tax. And so far the sector wpłacał him quite a lot, according to the Association of Polish Banks in 2014. Almost 4 billion zł. And without loss budgets in the coming years will be tense, because the Ministry of Finance is trying to reconcile the plan to keep the deficit below 3 percent. GDP with financing already enacted programs as Family 500 +.
The second problem is deleveraging, which may occur after the introduction of the Act into force. The disappearance of profits means that banks will not have nothing to increase equity (usually they do it just worked out profits). To fill safety indicators measured, eg. The value of capital assets, the bank would have to limit the increase in the value of these assets – which in practice does not provide new loans. That’s a problem, because the program of Deputy Matthew Morawiecki assumes rather the share of banks in the financing of the government.
Higher tax-free: yes, but …
In the case of increasing the amount of free two certainties. Firstly rise from next year. Secondly, certainly it will not increase for the forthcoming election campaign level 8 thousand. zł. The finance ministry has in this moment, for which the loss of income due to increase the amount of free will be able to afford next year. Target, or its increase to 8 thousand. zł, the PIT revenue lower by more than 20 billion zł. With almost half a loss in revenue of the budget. The rest of the local government.
Next year’s budget would not stand. Ministry of Finance calculates the path might look like an investigation into tax-free at the target level. Preliminary estimates put the increase by almost 1.5 thousand. zł next year. In subsequent years it could grow by a similar size, which means that the target could be achieved in 2019.
A year ago, PiS was considering introducing a third rate of PIT. Although it gave up in the coming years he will be looking for additional income because of the tight budgetary situation. It is therefore possible that increasing the amount of free will coupled with the introduction of its degressivity. So wealthier taxpayers will feel the benefits of this change to a lesser extent, or even not at all. Directional decisions on the introduction of tax-free allowances must be known in the first half, and the same law enacted as other related income taxes until November.
lower the retirement age
Another flagship postulate – namely to reduce the retirement age – PiS would pass this year. – We want the work schedule was so coordinated and carried out to indeed this project came into force in the next year – said on Friday Prime Minister Beata Awl. But as in the case of tax-free amount is not known what will be its final shape. In the Sejm deputies working on a presidential project that meets the Campaign promise of lowering the age to 60 years for women and 65 for men. The official position of the government is that the study of Beata Szydło supports the project in this form. But government enthusiasm for this solution lose politicians responsible for economic policy. In this form it means high costs for public finances due to higher pensions and lower premiums. Therefore informally circulate ideas put various restrictions, eg. By introducing a ban on combining retirement from work or gradually reduce wages and increase benefits by combining a pension with work. Ala far it loose concepts. The government is waiting for, or some kind of agreement will be possible in this matter in the Council of Social Dialogue between compounds that want as an additional criterion of length, and employers. Besides, this year is to be a review of the retirement and the final solution may be its effect. ©?
There will be no tax on trading network. For it will be a large amount of free
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