01.20.23

End of anti-inflation measures

2022 saw multiple countries deploy fiscal policies to reverse the adverse effects of inflation. While countries across Europe and globally continue to grapple with inflation, some countries are beginning to reverse their fiscal policies in this respect with a view to enhancing their economic position in 2023. 

Tungsten has been following Poland’s anti-inflation measures closely for some months. Many of the fiscal changes enacted here ceased at the end of 2022. 

This means that we can expect to see VAT rates return to their former rates, as seen prior to 1 February 2022, in line with the following: 

• Natural gas: from 0% to 23% 
• Electricity: from 5% to 23% 
• System heat- from 5% to 23% 
• Motor fuels- from 8% to 23% 

However, as mentioned, some limited measures will remain. For example, we communicated last month that the zero percentage on basic foods will remain in place in Poland.