Banks and public scramble to shelter money ahead of new savings tax
Commotion broke out in the banking industry yesterday when it was revealed
that Finance Minister Marek Belka's plan to introduce a 20% tax on savings
could come to life early next week. Many banks have decided to stay open
even on the coming Sunday and offer new types of deposits in order to
accommodate the public's desire to avoid the new tax. Some individuals are
trying to avoid paying the tax by a number of different types of
investments. Individuals can also omit the tax if they place their money
into long term deposit accounts before the new bill comes to life. "The
interest in services which shelter people from the new tax law is very
high," admitted representatives of Bank Zachodni WBK (BZ WBK), Powszechny
Bank Kredytowy (PBK), Kredyt Bank and Bank Slaski. (Rzeczpospolita, p. 1;
Gazeta Wyborcza, p. 1) A.K.
