Poland Plans to Hike Taxes in Bid to Control Ballooning Deficit

Poland’s government revealed plans to raise a range of taxes on banks and alcohol in an effort to shore up revenue in next year’s budget and back spending on defense and social benefits.

The Finance Ministry in Warsaw, which is working on its 2026 financial planning, proposed an increase in the corporate tax rate for banks to 30% next year from 19%, while offering to cut the bank asset tax by 10% from 2027, it said on Thursday.

The ministry also plans to hike an excise tax rate on alcoholic drinks to 15% next year, “to reduce the negative impacts ...