WARSAW: Poland is preparing to restore regular tax rates on fuels as peace talks between the United States and Iran progress, Prime Minister Donald Tusk says.
The country reduced value added and excise tax on fuels starting in April, which allowed petrol prices to stay one of the lowest levels across the European Union throughout the conflict.
The subsidies, which have been scheduled to run until the end of June, were estimated to cost 1.6 billion zloty (US$436mil) a month.
Last Friday, the Polish government said it would keep lower value added tax or VAT rates on the fuels for the last two weeks of the month, while it wouldn’t extend a reduction in excise levy, signalling a gradual wind-down of the programme.
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