What about tax on bank output profits? The Ministry denies: We do not conduct analyzes or consultations

The Ministry of Finance is not conducting analyzes or consultations on the introduction of tax on excess bank profits – the Biznes Ministry of Finance informed PAP.

“We are currently not conducting analyzes or consultations on the introduction of tax on the excess profits of banks,” the ministry wrote in response to PAP Biznes' questions.

As the ministry pointed out, entities from the banking sector (such as: national banks, foreign banks branches, credit institutions branches, cooperative savings and credit unions) from 2016 are subject to tax on certain financial institutions.

“The main purpose of introducing the tax was to increase the participation of the financial sector in financing budget expenditure, and thus increasing its involvement in these expenses. In 2024, all taxpayers of tax on certain financial institutions declared a total of approx. PLN 6.5 billion in tax tax. PLN 5.8 billion ” – MF said.

“At the same time, in 2024, banks provided almost PLN 13 billion in corporate income tax revenues, being its largest payer on a national scale., Where, profits generated by banks significantly supply the state budget in various forms due to the fact that for more than half of the banking sector assets, those banks are responsible that are controlled by the State Treasury” – added.

The ministry pointed out that the analysis of the scale of financial results of the banking sector shows that they are a consequence of the current level of interest rates and are only temporary.

“To sum up, work is currently not carried out on the concept of introducing the so -called tax on excess bank profits to the Polish tax system, and the analytical activities of the Ministry of Finance are focused on ensuring the effectiveness of currently existing solutions of the tax system,” the ministry said. (PAP Biznes)

Pat/ Pel/ ASA/ Pad/