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    Tax revenues in May higher than planned – informs minister of finance

    Tax revenues in May are better than we expected. Admittedly, VAT revenues were lower than expected, but the income from PIT (Personal Income Tax) in May this year was at a similar level to May 2019 , minister of finance Tadeusz Kościński informed.

    “We are pleased about the significant increase in revenues from CIT (Corporate Income Tax) in relation to April 2020, but also compared to May 2019. CIT revenues in the past month were higher by 51.4 percent, that is to say by PLN 1.3 billion compared to May 2019, while compared to the previous month increased by over 7 percent, that is to say PLN 300 million”, the minister said. As Kościński informed, according to preliminary estimates, total state budget revenues in the period between January to May 2020 amounted to PLN 157.1 billion, which is 96 percent compared to the corresponding period of 2019. In turn, tax revenues in this approach reached 91 percent of the result of the same period last year. The state has engaged tens of billions of zlotys in the fight against COVID-19 and protecting jobs, the minister reminded.

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