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Friday, December 8, 2023

Bank profits 2023. They earn a fortune

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With historically good results, the banking sector should also pay historically a lot of CIT, notes Rzeczpospolita in the Friday edition. The daily adds that it may, but does not have to, protect banks from new taxes.

According to the daily, in the first five months of this year, the banking sector earned over PLN 17 billion net (more than in the entire 2022), and the income tax in the profit and loss account reached almost PLN 6 billion.

Both items were up 33% year-on-year. and if such a good situation continued in the coming months, one could expect the highest results in the history of the sector – noted “Rzeczpospolita”.

She added that hopes for records may be cooled by the CHF problem, but even so analysts are optimistic.

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Attempt to tighten the screw

The newspaper reminded that in 2022, according to the report of the Polish Bank Association, the income tax paid by the sector amounted to PLN 8.4 billion, almost twice as much as in 2020 and in previous years.

Including the so-called the bank tax in 2022, the budget could “earn” PLN 13.7 billion from lenders, which is almost PLN 3 billion more than the year before and almost 90 percent. more than, for example, in 2016, we read.

The daily wonders whether, since the banks already “support” the budget so much, will they be able to avoid further taxes.

It may be possible to repeat the paratax from 2022, i.e credit holidaysor so-called windfall tax, a tax on windfall profits, as happened in the Czech Republic. The temptation to tighten the screw on the banks may be greater, the more they earn in the high society interest rates“- stated “Rzeczpospolita”.

Main photo source: Shutterstock

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