Polish gov't plans broader CIT exemption for investors
The government has raised the Estonian CIT for companies that reinvest their profits and seek tax exemption to PLN 100 million (EUR 22.2 million), PM Mateusz Morawiecki announced on Monday.
The Corporate Income Tax (CIT) exemption for businesses that reinvest profits, also called the Estonian CIT, is to be introduced in Poland from January 1, 2021 for privately-held small and medium-sized capital companies.
The initial plan envisaged the introduction of the Estonian CIT to companies with revenues of up to PLN 50 mln (EUR 11.13 mln) annually.
The Estonian CIT shifts tax collection to the moment profits are paid out to the owners.