Poland plans new incentives to boost investments

The Polish government readies more than 20 tax and regulatory changes and simplifications to help attract capital to Poland and support development and foreign expansion of domestic businesses, the daily Dziennik Gazeta Prawna (DGP) reported on Wednesday.

The new strategy, to be announced in late September or early October, is to be based on four pillars, according to the newspaper.

The first one is a special programme for Poles with assets or hidden income abroad protecting them against investigation from tax authorities, provided that they invest the repatriated money within a year, DGP wrote.

The second one, aimed for strategic investors, will offer 'VIP passports' in the form of simplified procedures and tax incentives for the largest companies which declare to invest at least PLN 1 bln (EUR 225 mln) in Poland or to create 1,000 jobs.

Two other pillars involve the so-called Estonian CIT, or tax exemptions for companies reinvesting their profits and tax incentives for businesses investing in robots, according to the daily.