FM: banking tax on assets, not on transactions

Paweł Szałamacha, the Finance Minister, said that Poland would introduce a banking tax on assets and not on transactions. "Our base scenario is a tax on assets," Szalamacha said. "There will be no tax on transactions." Law and Justice (PiS) had earlier said that the tax rate would amount to 0.39 percent of assets. Development Minister Mateusz Morawiecki said earlier on Tuesday that the implementation of taxes on banks and large retailers should be possible as of January 1, 2016.