Polish president says he signed windfall tax bill

By Reuters News

WARSAW, Oct 1 (Reuters) - Polish President Karol Nawrocki said on Thursday evening he signed a windfall tax bill which will be imposed on energy companies.

  • The Polish parliament approved the bill to tax windfall profits generated by oil and gas companies which have benefited from surging margins amid supply shocks due to the Middle East war.

  • The bill assumes that 2026 revenues on sales of fuels exceeding the previous year average by 20% would be taxed at 60%.

  • Prime Minister Donald Tusk said that if the bill becomes law, he would use proceeds to lower fuel prices at the pump.

  • Nawrocki referred a previous version of the bill to the country's constitutional court, pointing to concerns about its retroactive nature and potential effect on consumers.

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