PMTF supporting the initiative to implement Estonian CIT in Poland
Polish Maritime Technology Forum supports the initiative to introduce the Estonian CIT model. The initiative appeared in the update of the National Reform Program for the implementation of the “Europe 2020” strategy adopted by the Council of Ministers.
The Estonian CIT model allows profit to be left in the enterprise as long as it is not paid by the entrepreneur. Moreover, if all the profit is invested, the entrepreneur is not obliged to pay CIT. Given the difficult economic situation of many entrepreneurs resulting from the COVID-19 pandemic, we support the initiative to implement the Estonian CIT model in Poland as soon as possible.
Contrary to earlier announcements, banks and financial institutions have tightened the criteria for granting loans and credits, which has a significant impact on the financial liquidity of enterprises. At the same time, aid programs implemented in connection with the COVID-19 pandemic are temporary and may not be sufficient in the long run. Leaving profit in the company improves financial liquidity, and allocating it to investments allows for development despite the current tough policy of banks and financial institutions.
The Estonian CIT model is beneficial for the Polish economy and will be one of the factors leading to economic recovery.
Supporting the initiative of the Estonian CIT model, Polish Maritime Technology Forum expects legislative work to be implemented as soon as possible to introduce this solution at the beginning of 2021.
Read the support letter.