WARSAW: The European Commission (EC) initiated investigation the conditions under which Poland introduces tax incentives for shipyards. Since September 2016, Warsaw has taxed the sales of the shipyards with flat rate of 1%. In this way the companies in the sector pay significantly less than other companies (corporate tax in Poland is 19%), as well as by individuals whose income is taxed between 18% and 32%. In addition, shipyards pay their debts to the treasury only after building of the vessels has been fully finalized. Poland sent a notification to the EC on tax change for the sector in December 2016. Concerns in Brussels are that tax cuts in Poland will distort competition because they place local companies in a privileged position over other European companies in the sector. According to the first EC assessments, the aid is not necessary for the sector because there are Polish shipyards that are competitive on the world market in this area. For this reason, was initiated in-depth review of the measure proposed by the Polish government.
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