Friday, October 7, 2016

During the reign of IPRs increase income for all taxes – cable Republic

As the head of the standing Committee of the Council of Ministers Vasily Kowalczyk, state of work on the creation of so-called single tax, which connects the load to the personal income tax, contributions to social security and contribution for health insurance shall be exercised in accordance with the schedule, writes Zbigniew Kuźmiuk.

Because of this huge operation requires a database connection of taxpayers held by the tax authorities, social security and National Health insurance Fund to the Seimas have already been sent a bill that allows a database connection.

a single New tax burden will be reduced from 1 January 2018, a lot of time, because it requires not only the preparation of the law on the single tax, but also the rebuilding of these information systems.

the Minister Henryk Kowalczyk also lifted the veil of secrecy when it comes to the design of new loading and reported that the single tax will make another pre-election commitments as President Andrzej Duda, as the Law and Justice, namely, to increase the amount free from tax from the current 3 thousand to 8 thousand.

the Implementation of this commitment was the government odkładana to work on a single income tax, as only thus it will be possible to find funds for its financing.

As the Minister said Kowalczyk, the government wants the introduction of a new tax was neutral for the budget, but means the transfer of the financial burden between different groups dochodowymi.

the Minister noted that the so-called single tax for taxpayers with low income, less new is 8 thousand UAH. rubles the amount free from taxation the rate of tax will be lower than 10% (currently an effective rate as earnings is around 15%).

of Course, for people with very high incomes, the so-called tax is linear, although the percent of the total load will not increase, but the amount of the bill their total tax will be higher than before. Thus, will eliminate the existing serious weakness of the Polish tax system that is phased in the taxation of personal income (and therefore descending rates along with their growth).

the Minister Kowalczyk also confirmed the information of the Ministry of Finance about the good results sealing system of taxation in the first 8 months of this year.

Recall that according to these data, for the period January – August, budget revenues were higher by 14.6% compared to the same period last year, while tax revenues increased by 7.4% yoy.

In particular you should emphasize the fact that in the period January – August, the growth of revenue in all taxes compared to the same period last year.

And so the VAT revenues were higher by 7.4 %, i.e. up to 5.9 billion rubles, revenues from excise tax and from the games was higher by 5.1 %, roughly. 2.1 billion rubles from tax PITbyły higher by 7.7%, i.e. about 2.2 billion rubles, and, finally, tax-CIT 2, 5%, ie by about 0.4 billion UAH.

In connection with the introduction of a tax on financial institutions (the so-called Bank tax) income from this title for 6 months (available from 1 February, but monthly paid “slides”, and, therefore, for the period February – July) amounted to UAH 2.1 billion.

so, the income of the 4 main taxes (VAT, excises, personal income tax and CIT), was higher, up to 10.6 billion UAH for 8 months of this year compared to the same period last year, and together with the so-called tax on Bank account (which in the previous year not applicable) to UAH 12.7 billion on these from the previous year.

the Good results of the previous seal system of taxation encourages the government to continue work on the so-called single tax, which will introduce sprawiedliwsze than still the tax burden of personal income.

Source: cable Republic

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