Polish hydrocarbons tax on hold till 2020 - FinMin

The hydrocarbons law will come into effect in 2015, but Poland will not levy the tax on hydrocarbons until 2020 to attract shale gas investors, Finance Minister Jacek Rostowski told a press conference on Wednesday. The standard tax rate proposed in the bill on hydrocarbons is 12.5 percent, but the draft envisages numerous breaks depending on the profitability and costs of extraction, according to Finance Ministry proposals seen by PAP.