Polish opposition mulls financial tax, amid EU debate

Poland’s biggest opposition party, Law and Justice, which polls show will win next month’s general election, is considering a levy on financial transactions as an alternative to a plan to tax bank assets.

The party is analysing a 0.14% tax on all financial transactions, including a 0.07% tax on derivatives trading, which, combined, could deliver 1.7bn zloty (€404m) in annual revenue to the budget, Law and Justice lawmaker Henryk Kowalczyk said in an interview yesterday.

This compares with an estimated 5bn zloty in revenue from a potential 0.39% tax on banking assets.