4.375
%
Positive
17
mm boe
17
%
The liberalisation of the oil & gas segment remains a key positive, but we believe that the excellent work undertaken by the government risks being undone by its EU membership which remains an unknown factor, especially when considering the "top down" approach to legislation.
March 1, 2024
Europe - Central
mm bbl
bcf
Central Europe, east of Germany.
Concession
Very simple concession-based fiscal regime, comprising fixed royalty and corporate income tax, together with some indirect taxes. An additional profits tax called Special tax was abolished in 2007. There is no state participation.
The Polish government has made gradual progress in simplifying administrative processes for firms, supported by the introduction of digital public services, but weaknesses persist in the legal and regulatory framework. Implemented and proposed legislation dampened optimism in some sectors, such as energy. Investors point to lower predictability and the outsized role of state-owned and state-controlled companies in the Polish economy as an impediment to long-term balanced growth. The government continues to push for the creation of state-controlled “national champions” that are large enough to compete internationally and lead economic development. Despite a polarized political environment, and a few less business-friendly sector-specific policies, the broad structures of the Polish economy are solid.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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