The draft budget for 2022 does not show that we have huge savings in our pockets. With this tax cut, there was an unmasking – said Maciej Samcik, an economic journalist from Subiektywnie o Finansach, on TVN24.
The Council of Ministers adopted during Tuesday’s meeting draft budget act for 2022which will now go to the Sejm. The draft shows that next year the state budget revenues will amount to approx. PLN 481.4 billion, expenditure – PLN 512.4 billion, which means that the deficit is to be no more than PLN 30.9 billion, and in relation to GDP – 2 , 8 percent
Samcik on the draft budget for 2022
– From what the Minister of Finance Tadeusz Kościński and his deputy Sebastian Skuza said, we are to have more or less the same tax income as this year. And we are to have a slightly lower deficit than this year. After the last amendment, the state budget is to have a hole of 40 billion zlotys this year. Last year it was PLN 80 billion, and next year it is to be PLN 30 billion – summed up Samcik.
In his opinion, the government’s plan is to “gently come down with the budget deficit while not losing or increasing tax revenues.” – We are trying to spend a little less and therefore we will have a slightly smaller hole in the budget, if these assumptions prove to be true. This is a good direction and shows that the government is aware that it is necessary to slowly start overcoming the pandemic state in which we do not look at how much we spend, but simply save the economy – he emphasized.
Taxes in the draft budget for next year
Samcik mentioned that during the conference it was announced that the income from PIT in 2022 will be only PLN 4 billion lower than this year. – With this tax cut, there has been a bit of unmasking. The official message of the government is that 70-80 percent of us will pay low taxes, but the draft budget for next year does not show that huge savings will remain in our pockets – said the journalist.
He added that “even if some of us pay slightly lower taxes, this drop in taxes will be compensated for by much higher inflation, and this is the biggest problem”.
He also noted that the Polish Deal greatly complicates settlements for entrepreneurs.
– It causes that every entrepreneur, especially a small one, has a problem to determine whether they should switch from flat tax to flat tax or to general tax and settle according to the tax scale? Or do you transform your business into a company? In fact, any prediction of what will be the income to the state treasury from entrepreneurs and what taxes will be paid today is extremely difficult, because the Polish government has confused the Polish Order so much that it is impossible to predict how entrepreneurs will behave – he said.
According to Samcik, “each entrepreneur has several escape routes through the Polish Order and in most cases none will be effective, but they will probably try different ones and with greater or lesser effectiveness”.
Main photo source: concrete24