On 25 August 2014, Poland's President signed into law the bill introducing the new Hydrocarbon Tax Law and the amendments to the Mineral Extraction Tax Law.
Hydrocarbon Tax
The hydrocarbon tax will affect companies incorporated as a limited liability company or a joint stock company, and will apply to profits from the exploration of shale gas and oil. The rate of tax will vary from 0% to 25% based the ratio of the taxpayer's income to qualified expenses.
If the ratio is lower than 1.5, …