FinMin: Budget to be hit by FX-loan conversion bill
15:33
The Ministry of Finance said on Friday that if the law on CHF-mortgage conversion would be adopted in the form it was approved by the lower chamber of the parliament, it would have a negative impact of PLN 3.5 bln on CIT receipts of the Polish state budget in years 2016-2018 and of PLN 0.1 bln in later years.
The budget would be hit the hardest in 2016 when tax incomes would fall by PLN 2.7 billion, while losses in 2017 and 2018 would measure PLN 0.4 bln annually.
The estimates are based on the financial market authority KNF which forecasts that the legislation will cause PLN 21.9 bln in losses for the banking sector.
