Income tax of the Group was PLN 27.9 million in 2015 and PLN 26.8 million in 2014. The effective income tax rate in the periods under review was 18.4% and 19.3%, respectively, as compared to the standard Polish corporate income tax rate of 19%.

Income tax paid by the Group was PLN 17.0 million in 2015 compared to PLN 15.2 million in 2014. GPW paid income tax according to the general rules in 2015 and 2014. At the end of 2014, GPW reported a tax receivable of PLN 8.4 million, which was cleared in 2015.