On Tuesday, Sejm passed the act on taxes on some financial institutions. As a result, starting in February 2016 banks and other financial institutions will have to pay the so-called “bank tax” of 0.44 percent of the value of their assets.
Following up on election promises, members of the parliament passed the act on December 29th 2015. It will come into force on February 1st 2016 and will apply to entities such as banks (domestic, departments of foreign banks, loan institutions) insurance and reinsurance companies, credit unions and loan companies.
With regards to banks and credit unions the value of assets that will be exempt from taxation has been set at 4 bln PLN. The threshold for insurance companies is 2 bln PLN and 200 mln PLN for loan companies. The introduction of a new tax is justified with the need for funds to finance the government’s pro-social projects
Tax Committee of Employers of Poland