Copper tax down. Act on the extraction of certain minerals signed by the president

President Karol Nawrocki signed the act on tax on the extraction of certain minerals, the Chancellery of the President of the Republic of Poland announced on Monday.

The signed amendment provides for a reduction in the tax on copper and silver mining from 2026 by modifying in 2026-2028 the formulas according to which the tax rates are calculated. It also allows, from 2029, the tax deduction of part of the expenditure incurred in connection with the mining of copper and silver in Poland. Deductible expenses – according to the amendment – are to be related to the payer's investments.

Pursuant to the Act, the coefficient used to calculate the tax amount, currently 0.85, will drop to 0.74 in 2026, while in 2027-2028 it will amount to 0.68. The Ministry of Finance estimates that the payer is to gain a total of PLN 500 million in 2026 and PLN 750 million annually in 2027-2028.

Additionally, from 2029, a mechanism will be in force that will enable a 40% tax deduction. eligible capital expenditure related to copper and silver mining. The maximum value of this deduction in a given settlement period will not exceed 30%. the amount of tax on mined copper and silver. (PAP)

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