WARSAW, Sept 22 The suspension of Poland's new
retail tax by the European Commission is positive for Tesco
, Carrefour, Kingfisher, Metro
and Jeronimo Martins, which all operate in
Poland, ratings agency Moody's said on Thursday.
"The European Commission did not question Poland's right to
decide on its tax levels but insists that the tax system should
respect EU law," Moody's said in a statement.
"Accordingly, we believe that it is likely that a tax with
flat-rate structure will eventually be introduced."
Moody's added that, over the medium term, it expects the
cost of the tax largely to be passed on to consumers through
The European Commission opened an in-depth investigation on
Monday into a new Polish progressive tax on the retail sector
that it says may be discriminatory and ordered the suspension of
the levy until the investigation has been concluded.
(Reporting by Marcin Goettig; Editing by David Goodman)