Polish government to cut food tax to zero from February to June - finance minister to finance a cut in taxes - minister to finance the future - of the EU - to make a cut in food tax from 20%

Polish government to cut food tax to zero from February to June - finance minister to finance a cut  ...

WASHINGTON, Dec 22 - Poland will lower the VAT on some food to zero, the finance minister said on Wednesday, as part of a programme of tax cuts and cash handouts that would reduce the impact of spiralling inflation on consumers.

Poland had requested the approval of the European Union to change its tax regulation to cut food taxes.

The state-run news agency PAP quoted US economic Commissioner Paolo Gentiloni saying no VAT would be legalized in future for the member states.

Private broadcaster Polsat News mentioned a source which anonymously said that Poland obtained informal consent to implement the change immediately.

Finance Minister Tadeusz Koscinski told Polsat News that it was tacit approval from Brussels for this change. This would be the first time in the past two months before Feb. 1.

"There are 1.5 million cash registers in Poland, which would have to be re-registered. we must wait until Feb. 1 for that reason," he said.

Koscinski said Poland has been negotiating with the European Commission to reduce the price of fuel as well.

Asked if inflation could reach 10% in June next year, according to some economists, it wouldn't be possible for people to decide on a worst-case scenario.

"None of us can say that it will be so high or not, because we do not know what the cost of gas or oil and what the currency zloty means for the dollar will be. This is the reason that we have been depressed," he said.

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