October 05, 2022 17:13 GMT
- CZECH GOVERNMENT PLANS 60% WINDFALL TAX ON LARGEST BANKS (Bloomberg)
- The Czech Finance Ministry told banks on Wednesday it plans to impose a windfall tax on the country’s largest lenders, seeking to raise about 25 billion koruna ($1 billion) a year to fund energy subsidies as global fuel prices soar, according to a summary of the meeting.
- The government would apply a tax rate of 60% on lenders’ extraordinary profits, according to a note summarizing the meeting between ministry officials and banking executives.
- The special levy is expected to remain in place for three years, raising about 75 billion koruna over the period. (BBG)