The Polish Government has announced its goal to reduce the country's standard VAT to 22% by 2017. The current rate of 23% had been raised from 22% due to Poland's growing budget deficit, which reached 10% of GDP in 2010. Poland has since made progress in reducing its deficit and is expected to reach 4.3% of GDP in 2014 and fall below 3% of GDP in 2015.
OrbitaxPoland Expected to Cut VAT Rate by 2017
