Locked content Banks paid PLN 1.86 bln in H1 – KNF

The value of the banking tax paid by lenders in H1 amounted to PLN 1.86 billion, the Financial Supervision Authority said. This is PLN 68.7 million more than last year. The banks assets at end-June amounted to PLN 861.9 billion while their profit stood at PLN 7.84 billion, up by 17 percent. In the f...

Locked content Insurers want PPK assets exempt from bank tax

Insurers lobby Polska Izba Ubezpieczycieli PIU wants assets of employer-sponsored pension plans PPK managed by insurers to be exempt from the so-called bank tax. The Finance Ministry is currently analyzing the issue but is “reluctant” to make any exemptions. “This is a fundamental problem because we...

Locked content Bank tax reached PLN 3.6 bln in 2017 – KNF

The value of the banking tax paid by lenders last year amounted to PLN 3.63 billion, the Financial Supervision Authority said. “Last year, banks made a profit of PLN 13.6 billion. This is 2.3 percent lower than the year before however, this difference is primarily due to a one-off sale of shares Vis...

Locked content Changes to bank tax being considered

Changes are being considered to the asset tax on financial institutions, which could increase tax receipts, according to Deputy Finance Minister Wiesław Janczyk. “The change would consist of taking an average level of assets for all days in a month, or taking as a base the total assets from the end ...

Locked content Banks paid PLN 1.4 bln in asset tax March-June

Polish financial institutions paid PLN 1.4 billion in the new asset tax in March-June period, the Finance Ministry said in a report on end-June budget realization. Poland initially budgeted PLN 5.5 billion in bank tax receipts for the full year but the tax came into force as of March 1. The Finance ...

Locked content Poland will not reach revenue target on bank tax

Deputy Finance Minister Wiesław Janczyk said that Poland will likely fall short on its revenue target on tax on bank and insurers assets. “The data clearly show that inflows will be lower than we planned in the budget bill,” Janczyk said, adding that the outcome is not a surprise.  ̶...

Locked content PiS summons banks’ CEOs over fee hikes

Poland’s ruling party Law and Justice has summoned heads of commercial lenders over banks’ service fee increases following the passing of a bank tax law. “We would like to know why banks are introducing such sharp price increases,” Andrzej Jaworski, PiS MP told private broadc...

Locked content Moody’s: Bank tax threatens banks’ profitability

Rating agency Moody’s on Monday assessed that a tax on banks’ assets of 0.44 percent a year will cost the sector about PLN 4.4 billion this year, equal to around 32 percent of banks’ annualized earnings for the first ten months of 2015. The bank tax risks reducing  banks’ return on asset...

Locked content Moneylenders to pay PLN 15 mln tax

Four moneylenders, which are to be taxed by the government, will pay some PLN 15 million in total, NWAI brokerage estimated. The lending companies are: Provident, Profi Credit, Vivus and Bocian Pożyczki. The first one, Provident will be charged  PLN 11.75 million, thus its net profits will shrink by...