November 28, 2019 / 4:22 PM / 2 months ago

Slovak parliament approves bank tax bill doubling rate, prolonging its life

BRATISLAVA, Nov 28 (Reuters) - The Slovak parliament approved a bill on Thursday to double a special tax on banks and extend it indefinitely instead of ending it next year, a move the central bank said would threaten financial stability.

The banking tax was adopted in 2012 to build a buffer against potential future crises in the euro zone country and had been scheduled to expire at the end of 2020.

Last month, though, the government approved a new plan to maintain and raise the tax on banks’ liabilities, after subtracting basic capital, to 0.4% as it seeks to cut fiscal deficits at a time of slowing economic growth. (Reporting By Tatiana Jancarikova; Editing by Hugh Lawson)

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