The legal act introducing credit holidays and extending the operation of anti-inflation shields until October 31, was adopted by the Sejm. The anti-inflationary shields, which are currently in force until July 31, include a lower VAT rate for fuels (8% instead of 23%), the VAT rate on electricity and heat is 5%, and the tax rate on gas is 0%.

The Sejm passed the act on crowdfunding for economic ventures and assistance to borrowers. It contains provisions for the support of borrowers. Holders of PLN loans will be able to apply for four months of credit holidays this year (two months in Q3 and Q4 2022 and one month in each quarter of 2023).

The act also includes provisions aimed at strengthening the Borrowers Support Fund, which helps borrowers in trouble. According to the draft, the banks are to pay an additional PLN 1.4 billion to this fund by the end of the year.

During its work, the Sejm introduced provisions to the act aimed at extending the operation of anti-inflation shields until October 31. As part of the shields, a lower VAT rate is applied to fuels (8% instead of 23%), the VAT rate for electricity and heat is 5%, and the rate of this tax on gas is 0%. In addition, there is also the application of the zero rates on basic food products, fertilizers and selected agricultural production means.

The validity of the reduction in the excise duty on electricity, the exemption from the excise duty on electricity for households, the reduction of the excise duty rates for certain motor fuels and the temporary exclusion from taxation of the trade tax of the above-mentioned electricity were also extended. The lower excise duty also applies to light fuel oil.

Arkadiusz Słomczyński