Polish Parliament Approves Solidarity Contribution on Coal Companies

The Polish parliament approved the law that provides for the introduction of a solidarity contribution on coal companies that will be used to finance electricity price reductions for households. The solidarity contribution applies for companies that mine, produce, or trade coal. The contribution is levied at a rate of 33% on extraordinary profits earned in 2022 to the extent exceeding 120% of the average profits earned in the previous four years. The law has been sent to the president for si…