2025-11-27 15:26
publication
2025-11-27 15:26
On Thursday, the Senate did not submit any amendments to the amendment to the act on the tax on the extraction of certain minerals, which reduces the tax on copper and silver mining. The bill will now go to the president.
90 senators voted to support the bill without amendments, no one was against and no one abstained.
The changes provided for in the amendment to the Act on tax on the extraction of certain minerals and certain other acts are to be carried out in stages. In 2026, the 0.85 coefficient in the formula for calculating the amount of tax due will be reduced to 0.74, while in 2027-2028 it will amount to 0.68.
The head of KGHM about copper, taxes and nuclear energy. “It's one way ticket. There's no turning back”
KGHM is faced with the need to invest in increasingly deeper deposits. Andrzej Szydło, president of KGHM, explains why cessation of investments would mean a disaster, explains the compromise on the tax on the extraction of certain minerals and explains why for a mining company building a strategy for five years is by definition a mistake.
The Ministry of Finance estimated that due to the proposed changes, taxes on copper and silver mining paid to the state budget will be lower by PLN 0.5 billion in 2026 and by PLN 0.75 billion annually in 2027-2028.
In turn, from 2029, a mechanism will be in force enabling a 40% tax deduction. eligible investment expenditure in the field of copper and silver mining. The maximum deduction amount will not exceed 30%. the amount of tax on mined copper and silver in a given settlement period. (PAP)
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