Poland plans to hike tax on alcohol, cigarettes

Poland’s government plans to increase excise tax on alcohol and tobacco products in a series of hikes beginning next year, state news agency PAP reported on Monday. It is reported by Upmp.news with reference to Polskie radio.

The Polish finance ministry wants to raise tax on spirits, beer, and wine by 10 percent in 2022 and by 5 percent each next year until 2027, according to the news agency.

Meanwhile, excise tax on cigarettes and tobacco products would go up by 10 percent annually from 2023 to 2027, following an increase in the minimum tax rate in 2022, PAP reported.

The move is expected to generate an extra PLN 2 billion (EUR 433 million, USD 501 million) for state coffers next year and a total of PLN 103.7 bn (EUR 22 bn, USD 26 bn) over the next decade.

Poland’s government in September approved the country’s budget for 2022, which expects the economy to grow 4.6 percent, with inflation targeted at 3.3 percent.

Government revenue is expected to total PLN 481.4 billion in 2022, with spending set at PLN 512.4 billion.

(jh/gs)

Source: PAP