POLAND: New retail tax introduced | Progresiv
In the attempt to support small independent stores, the Government has revealed details of the new retail tax which will come into effect on 01.04.2016. The tax will be progressive with a rate of 0.7% for retailers with monthly sales between 1.5 million zlots and 300 million zlots (335,000 euros – 67 million euros), 1.3% for those with monthly sales above 300 million zlots and a maximum rate of 1.9% on week-ends and holidays. Stores with monthly sales below 1.5 million zlots will be exempt. 
The Polish Finance Minister indicated that “the retail tax will not lead to increases in prices”, in other words the new government expects retailers to absorb the burden of this new tax.
Assuming a blended tax rate of around 1.6% for group’s sales in Poland, this new tax represents a gross impact of around 150 million euros per annum for Jeronimo Martins or around 25% its consolidated operating profit expected this year.
The new Polish government is also considering a ban on Sunday trading, according to local media. The ban may apply only to large stores in order to protect the independent retailers. Although Jeronimo Martins and Lidl would not affected by this regulations, it would additional hurdle for Tesco, Auchan and Carrefour. (www.igd.com)
