For the first four months of the tax on certain financial institutions (ie. A bank tax), commercial banks paid 1 173.1 million zł tax in this respect – said on Tuesday the Financial Supervision Commission.
KNF sent to the banks a survey on the effects of the law on tax on certain financial institutions from January 15. From the submitted surveys show that banks paid 1 173.1 million zł this tax in the first four months of application of this law. The share of bank assets, paying tax in the sector’s assets is 25 percent. – Notify the Financial Supervision Authority.
The monthly changes in the size of the tax, notes the Financial Supervision Authority, are insignificant. In February this year. Banks paid 304.8 million zł, in March, 300.6 million zł, in April of 283.7 mln zł, and in May, 284 million zł.
increasing interest in Treasury bonds
“Changing the amount of tax paid from April 2016. Due to the fact that the input of one of the banks in the process of resolution, which is part of the release of this tax” – noted the committee. He adds that since January 2016. Is a noticeable increase in the banks’ interest in Treasury bonds.
“The value of bonds held by banks, which were required to pay tax increased from 163.4 billion zł at the end of December 2015. zł to 217.5 billion at the end of May 2016. (and therefore about 54.0 billion zł, ie. 33.07 percent). “- informs the Financial Supervision Authority.
He added that among the analyzed banks, which at least once paid tax in the first five months of 2016. An increase in the tax base occurred in 4 banks. While the total tax base in the period from December to May decreased by 6.43 percent. – Marks the KNF.
Tax bank
The tax on certain financial institutions (bank tax) includes All commercial banks, however, a number of exemptions and deductions makes a number of banks paying the tax is no more than 19 entities – draws attention to the KNF. The tax rate is 0.0366 percent. monthly volume of assets decreased by 4 billion zł; own funds of banks; Treasury bonds in the portfolio of the bank; means cooperative banks accounts in banks associations; securities acquired from the NBP as collateral for a loan refinancing National Bank of Poland.
“Therefore, the assets of commercial banks in the amount of about 1 499.5 billion zł, the tax base oscillated between 920 – 960 million zł” – emphasizes the KNF.
Tax Act, certain financial institutions effective from February 2016. It is expected that, among others, banks, insurance companies, credit unions and loan companies will be levied on the so-called. bank tax, ratio of 0.44 percent per annum. the value of their assets.
The purpose of the Act on the bank tax is, as the authors argue – PiS deputies – acquire additional “sources of financing of budgetary expenditure, in particular social expenditure”. According to the Act are subject to tax banks (domestic branches of foreign banks, branches of credit institutions), insurance and reinsurance, co-operative savings and credit unions and loan companies.
In the case of banks and cooperative credit unions assets tax-free amounts to 4 billion zł. For insurers this is a 2 billion zł, and for the loan companies – 200 million zł. Exempt bank is Bank Gospodarstwa Krajowego and possibly other state banks, which may arise in the future.
The law requires, inter alia, that the insurance companies and the loan will not be able to artificially divided to avoid the tax. Limit on assets (respectively 2 billion zł and 200 zł million), above which they will pay tax concerns not individual companies, but the whole group.
Originally it was assumed that the tax base per month will amount to 0.0325 percent. In the course of PiS MPs they have submitted an amendment to increase the rate to a level of 0.0366 percent. per month, ie from 0.39 percent to 0.44 percent. annually. They explained this increase in maintenance revenue from the tax on the previously planned level. They feared their decline due to the introduction to the law of another amendment was – she said she exemption from the tax base the amount of bonds that were purchased to finance the public debt.
Parliament also decided that the assets of cooperative banks, which are part of the associations will not be added together in calculating the amount of tax. This provision would change the Senate, but parliament itself can not agree.
During the January debate in the Senate Bierecki (PiS) named exactly which entities the bank tax will cover and what it will be released in connection with the adoption of the limit of assets 4 billion. Will be released, he said the head of the Senate committee for budget and finance, for example. All cooperative banks, and asset management company. On the other hand, in the case of cooperative savings and credit unions, will exempt 43 percent. assets, and the “57 percent. sector assets will be subject to tax,” – said Bierecki. (PAP)
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