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Slovak Bank Tax Is Going to Hurt Austrian Banks

Published: October 21, 2011; 10:52 · (Vindobona)

On Thursday the Slovak parliament has officially approved a bank levy. The tax is one of the measures taken by the government to strengthen the Slovak budget.

Slovak Bank Tax Is Going to Hurt Austrian Banks / Picture: © Vindobona.org

Instead of previously intended 0,2 %, the levy will amount to 0,4% on the corporate deposits and thus it will be the highest bank tax in the EU.

According to the government in Bratislava, the tax should bring around € 80m yearly. This amount will be collected on a special account and use in case of any future financial crisis.

The Slovak Banking Association has raised…

This article includes a total of 154 words.

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