NBP Vice President of the CIT increase for banks: High profits are temporary

The proposal to increase income tax from banks show inconsistency – the increase is to be associated with the transition phenomenon, which are high profits of banks, but the higher CIT is to remain permanently – the first Vice President of the NBP Marta Kightley told PAP.

The Ministry of Finance has prepared a bill, which aims to increase income tax from banks. The CIT rate from these institutions is expected to increase from 19 percent. Currently up to 30 percent In 2026, in 2027 it is expected to fall to 27 percent, and from 2028 it will be permanently 23 percent.

– This proposal shows inconsistency. It is said that this is a response to the high profits of banks, they currently achieve. Meanwhile, you should be aware of the fact that The results of the banking sector are characterized by high cyclicality and are strongly related to the economic situation. Current high profits result, among others from higher interest rates. Only that interest rates change, the environment of banks also, and thus the level of bank profits – Now we have a period of high sector profits, but there was a period when the bank's profits were relatively low and even zero in 2020. Despite this, the proposal is that the increased rate is to remain permanently – the first Vice President of NBP Marta Kightley told PAP.

She reminded that banks do not have full freedom in the disposal of their profits. She indicated that on the one hand, they must complete capital regulations, on the other, they must adapt to the guidelines of the Polish Financial Supervision Authority, which shows the permissible level of dividends paid by banks.

It is debatable that although the regulation is motivated by a temporary phenomenon, it is not temporary, “Kightley added.

According to the project, banks are to obtain a reduction in the so -called bank tax – by 10 percent in 2027 and 20 %, but relative to the current state, in 2028, and the tax is to remain at this level.

– This means that the credit activity of banks will still be – though to a lesser extent – charged with this tax. In the conditions of a falling account of loan to GDP in Poland, this is not good news. We know that behind the decrease in this relationship there are mainly demand reasons, but the NBP has repeatedly indicated in reports about the stability of the financial system that the modification of bank tax would conducive to increase the availability of credit – noted the Vice President of the NBP.

MF estimated that CIT changes for banks are to increase the budget revenues from this tax in 2026 by approx. PLN 6.5 billion. In total, in the next 10 years, CIT increases for banks are to bring the budget over PLN 20 billion.

Marek Siudaj (PAP)

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