Social insurance cuts, new CIT rules for SMEs - PM

Over 300 thousand SMEs in Poland will pay lower social insurance, and will be freed from CIT if they invest, PM Mateusz Morawiecki said on Sunday in Pilichowice, southern Poland.

Morawiecki said the social insurance reductions will embrace firms with monthly sales and nettings up to respectively PLN 10,000 (EUR 2.3 thousand) and PLN 6,000 (EUR 1.4 thousand). He added that there were about 300,000 such companies in Poland.

Morawiecki also announced a so-called "Estonian CIT" model, which frees investing companies from the tax. Morawiecki said the new regulations were aimed to help small companies develop.

The new social insurance and CIT rules were passed by the government on Thursday.