Poland could still impose windfall tax on select sectors

"It does happen that some companies, given the international situation, generate higher profits than they would from natural economic activity, and we have not given up on this tax," Mueller said. Tomasz Gzell/PAP

Poland is mulling a windfall tax and if a decision is made to implement it, the resolution will target particular sectors and not all companies, government spokesperson Piotr Mueller told broadcaster Radio Zet.

"It does happen that some companies, given the international situation, generate higher profits than they would from natural economic activity, and we have not given up on this tax," Mueller said. "We are observing situations in particular sectors and if this solution enters into force, it will concern sectors with companies which actually have those extraordinary profits."

On Wednesday, State Assets Minister Jacek Sasin told PAP his ministry may yet present a new proposal for a windfall tax after proposals by the Climate Ministry largely consumed plans for the levy on the power sector.

Previously, the State Assets Ministry proposed imposing a windfall tax on all large firms (250+ employment, EUR 50 million annual revenues) that improved their gross margin in 2022 vs an average for the years 2018, 2019 and 2021. The 50-percent levy might have been imposed on the 2022 revenues and the difference in margins between 2022 and the average for the reference years. According to private radio broadcaster RMF FM, that proposal by the State Assets Ministry will be scratched.