Financial institution tax could be tweaked - FinMin

The Ministry of Finance is evaluating the tax on financial institutions and could amend it in the near future, deputy minister Paweł Gruza said. “We can tweak the tax to make it more neutral for the economy and the financial sector,” he explained. Currently, the tax has a flat rate on qualifying assets and is being collected at the end of each month from banks and insurers. Previous proposals to amend it included basing the tax on average-monthly asset levels. For this year, the ministry plans to collect PLN 4.3 billion from the tax.