However, not all the proposed changes are so positive - certain deductions may not be allowed next year, among them:
- personal income tax rates are to be reduced to 20%, 31%, 43%;
- the corporate income tax rate is to be reduced to 38% (this will gradually be decreased to 32% by the year 2000).
- training and professional improvement will not be tax deductible for individual taxpayers;
- expenses incurred on purchasing shares and bonds from the State Treasury will not be deductible;
- donations to individuals will not be tax deductible.
This information was correct as of 11 September 1997.
Tax laws and practise are constantly being revised and, whilst every effort is made to ensure that the information in this tax newsletter is accurate and timely, no decision should be taken on the basis of the information herein without first consulting with KPMG Polska.
Should you have any questions in relation to the above issues, please contact:
Oliver Sinton KPMG Polska LIM Center - Marriott Hotel - IX floor Al. Jerozolimskie 65/79 00-697 Warsaw, Poland Tel: +48 (22) 630 7236 Fax: +48 (22) 630 6355
