The liberalisation of the oil & gas segment remains a key positive, but we believe that the excellent work undertaken by the government risks being undone by its EU membershipm which remains an unknown factor, especially when considering the "top down" approach to legislation.
May 21, 2021
Europe - Central
Very simple concession-based fiscal regime, comprising fixed royalty and corporate income tax, together with some indirect taxes. An additional profits tax called Special tax was abolished in 2007. There is no state participation.
Until the outbreak of COVID-19, Poland’s economy had been experiencing a long period of uninterrupted economic expansion since 1992. During this time, Poland’s investment climate has continued to grow in attractiveness to foreign investors. Foreign capital has been drawn by strong economic fundamentals, driven by persistently strong domestic consumption and higher-than-expected investments. Proposed economic legislation dampened optimism in some sectors, with some investors pointing towards unpredictability and the outsized role of state-owned and state-controlled companies in the Polish economy. In 2020, as a result of the COVID-19 pandemic, Poland’s economy is likely to experience the first recession in 30 years, but it is likely to weather the crisis better than almost any other EU member state.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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