On July 13, the Government accepted the Assumptions for the Draft State Budget for 2011 which refer i.a. to major macroeconomic indices, i.e. GDP rise of 3.5%, the average remuneration of PLN 3,359, the unemployment rate of 9.9% at the end of the year. Under the assumptions, the state budget incomes in the next year are to be influenced by the consequences of system changes, e.g. VAT-related changes i.a. increasing from PLN 100,000 up to PLN 150,000 the limit of the annual turnover which entitles taxpayers to VAT exemptions in 2011 or CIT-related changes i.a. introduction of exemption of foreign investment and retirement funds from the income tax.

Contact person: Mirosław Stefanik, ms@pnplaw.pl