On 4 October 2023, the Monetary Policy Council of the National Bank of Poland decided to lower interest rates, effective 5 October 2023. This decision will lead to a reduction in the interest rates applicable to tax arrears and late payments, as outlined below:
- The standard rate is reduced from 15.0% to 14.50% per annum
- The reduced rate is reduced from 7.50% to 7.25% per annum
- The increased rate is reduced from 22.50% to 21.75% per annum
The reduced rate is applicable if a self-correction is made before receiving a notice of procedures for an amended assessment. Additionally, to avail of the reduced rate, the payment must be made within 7 days of filing the corrected return.
