Poland Scraps Income Tax for Families With Two or More Children
Summary
Poland's President Karol Nawrocki has approved a law that eliminates personal income tax for families with two or more children. The law aims to help families save money and encourage a higher birth rate in the country. It still needs approval from Poland's Parliament and Senate to become official.Key Facts
- Poland's President Karol Nawrocki signed a law for zero income tax for families with at least two children.
- Families can earn up to 140,000 zloty ($38,395) per year to qualify for the tax exemption.
- Both biological and legal guardians, including foster parents, are eligible.
- Same-sex couples are not recognized in Poland and cannot adopt, so they are not eligible.
- The average family could save about 1,000 zloty ($274) each month under the new law.
- Poland's fertility rate is decreasing, with only 252,000 births last year, a postwar low.
- The President aims to increase the Polish population by encouraging Poles living abroad to return.
- The law must pass through Poland’s Parliament and Senate before it becomes official.
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