Government preparing tax for banks

The Government is preparing a local version of the additional tax for banks considered across Europe, with talks (which will also include the NBR) scheduled for next week. Bankers say they know nothing of such a plan.

“We decided to have the Government meet with the representatives of the National Bank of Romania next week and discuss the measures we are thinking of proposing,” Environment Minister Laszlo Borbely, quoted by Mediafax, told a news conference. He explained that the measures analysed by the Government included the introduction of an additional tax for banks, using a model discussed throughout the entire Europe. There is talk in Europe about creating a fund fuelled by special taxes levied on banks, which should be able to provide financial support to institutions facing trouble, thus rendering use of public funds unnecessary. The tax should be higher for banks with a higher risk profile.

Radu Ghetea, chairman of the Romanian Banking Association, says he knows nothing about the plans to introduce a special tax. “If there is a EU directive, it will obviously have to be enforced, if it is about a local tax, then we have not discussed it with the National Bank or the Finance Ministry.”