Ageing and Taxes: PIE Warns of Falling Incomes by 2060
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According to an OECD forecast, Poland's tax-to-GDP ratio could decline by 2 percentage points by 2060, due to an aging population. The government…
Population aging could reduce the tax revenue-to-GDP ratio in OECD countries by approximately 1 percentage point by 2060, and in Poland by nearly 2 percentage points, according to analyses cited by the Polish Economic Institute.
Poland may lose some tax revenue relative to GDP. According to the Polish Economic Institute, demographics will be to blame. By 2060, the number of people aged 35-60, who currently pay the most taxes, will sharply decline. Experts point out where the budget will be most affected.
An aging population will mean increasingly lower tax revenues. According to OECD forecasts, Poland's tax-to-GDP ratio could decline by 2 percentage points by 2060. One way to mitigate these losses is to extend the working lives of seniors.
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