Polish CEOs to lose golden parachutes?
PR dla Zagranicy
A new tax system planned by the Law and Justice government could see the introduction of a 65-percent tax on severance packages in Poland.
Photo: Flickr.com/Flazingo Photos
According to the authors of the amendment, the change is aimed at counteracting exceptionally high severance packages and compensation for board members of companies owned by the Treasury.
The government has outlined a two-point plan.
The first includes a very high income-tax rate. “Every złoty paid over a period of [12 months after the severance of the contract] will be taxed at 65 percent,” explained the TVN BiŚ broadcaster.
The second point is de facto aimed at those contracts which include high severances clauses exceeding three monthly salaries. In this case, this period is also covered by a 65-percent tax.
The business news service Macronext (@Macronextcom) tweeted that “[CEO’s] will lose those types of parachutes. Surely lawyers will come up with three more [ways].”
Prime Minister Beata Szydło announced her government’s roadmap for the first 100 days on Wednesday. (rg)