Poland likely to tax banking assets above PLN 4 bln

Poland is likely to impose the 0.39% tax on banking assets above the PLN 4 bln sum, cabinet minister Henryk Kowalczyk told PAP.

“It is about exempting the first PLN 4 bln; the tax [0.39%] will be calculated from the excess,” Kowalczyk said. “It is not the final version but for the time being there is such a proposal.”

“Final decisions will be made next week,” he added.

Poland wants to implement the tax as of the beginning of 2016, the official reiterated. The draft is to be released next week, he said earlier on Friday.

Finance Minister Pawel Szalamacha said on Thursday Poland expects to collect some PLN 6 to 6.5 bln from the bank asset tax at 0.39%. Previously PiS officials said they could take some PLN 5 bln annually from the tax.

jba/ seb/ maf/ ami

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