Poland austerity VAT hike
Poland has become the newest European country to increase its indirect tax rate to help cope with financial crisis and Euro currency crisis. Its standard rate will rise from 22% to 23% on 1 January 2011.
The reduced VAT rates of 3% and 7% will rise to 5% and 8%, respectively.
Poland’s VAT rate had been constantly at 22% since its 1993 introduction.