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Wednesday, July 17, 2024

Changes in Belka’s tax. Position of the Polish Bank Association

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We are talking to government representatives regarding changes to Belka’s tax, Tadeusz Białek, president of the Polish Bank Association (ZBP), said on Thursday during a press conference. He added that the banking community is also ready for talks on changes in the banking tax.

– We are talking to government representatives regarding changes to Belka’s tax, i.e. capital gains tax. We are in favor of abolishing or limiting it, we have been talking about it for a long time – said Tadeusz Białek, president of the Polish Bank Association, on Thursday during a press conference. – Belka’s tax is an issue that is currently happening, the Ministry of Finance has started analyses, as publicly announced by the Minister of Finance Andrzej Domański, we are ready to participate in this process – he added. He noted that there are no specific proposals or work schedule yet. He pointed out that the tax does not burden banks directly, but only their customers, reducing their tendency to save.

The union wants changes to the banking tax

– We signaled our willingness to start a discussion on changes in the banking tax. I emphasize that we do not want it to be abolished, nor do we want the changes to lead to a reduction in budget revenues. We want to civilize it so that it is not a tax charged on assets, but on liabilities, which would mean that banks will not be punished for their activity on the credit market – said the president of the Polish Bank Association. He added that banks would like green investments and expenditure on energy transformation to be exempt from tax. He also stated that the Ministry of Finance had listened to these proposals and that “we are at the beginning of the road.”

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Apartment for starters program

During the conference, ZBP representatives also talked about the program to support borrowers when purchasing a flat, which is being developed by the Ministry of Development and Technology. The program, which is to be called Mieszkanie na start, is to be launched on July 1, 2024 and, according to the ministry’s assumptions – as Agnieszka Wachnicka, vice-president of the Polish Bank Association, said – it is to cover 50,000 people. people with a budget of PLN 500 million. Agnieszka Wachnicka also said that the program is intended to cover singles up to 35 years of age and people with at least one child and is intended to cover the purchase of the first apartment. The exception is a family with at least 3 children – such a family will be able to benefit from the program despite having an apartment. According to the assumptions presented by the vice-president of the Polish Bank Association, under the program support will be granted only for part of the loan – from PLN 200,000. PLN for singles, up to PLN 600,000. PLN for 5-person households, and then the amount increases by PLN 100,000. PLN for each additional person in the household. The remaining part of the loan is to be subject to market conditions. The state will subsidize the support amount in order to reduce the loan interest rate to 1.5%. in the case of one- and two-person households, up to 1 percent. in the case of a three-person household, up to 0.5 percent for four people and up to 0 in the case of households of 5 people and more. The possibility of using support will be limited to people who fall into I tax threshold (they earn up to PLN 120,000 gross per year) in the case of singles. In the case of families with children, the amount of possible income will be modified – up to PLN 33,000. PLN per month for families with at least 3 children. – This program will significantly limit the availability of loans with support for singles, but it may have a positive effect in the case of large families, because in their case it will be possible to purchase an entire property on a loan with a subsidy from the state – said Wachnicka.

Results of the Safe Credit 2% program.

She also provided data on the results of the now completed Safe Credit 2% program. She explained that banks stopped accepting applications under the program on January 2, when the budget for 2023-2024 was exhausted. By then, 101,888 loan applications had been submitted and 56,942 loan agreements were concluded. – The Ministry of Development and Technology has already announced that this program will not be continued, but its second pillar, i.e. the Housing Account, is still in operation and it will not be terminated. The ministry’s announcement shows that this solution will be made more attractive, perhaps including: in terms of financing subsidies to funds in this account – said Agnieszka Wachnicka. – The pace of concluding contracts for Housing Accounts has slowed down, but by January 22, 5,278 accounts were opened – she added.

Main photo source: Adobe Stock

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