June 22, 2020 / 9:09 AM / 13 days ago

Slovakia to replace bank tax with funding for public, private projects

PRAGUE, June 22 (Reuters) - The Slovak government has agreed with banks to replace a special bank tax based on bank’s assets with higher funding for public and private projects, Prime Minister Igor Matovic said on Monday.

One billion euros deposited from past tax payments will be moved into a national development fund.

Future payments of the tax, or about 150 million euros per year, will be scrapped and banks will use the capital to fund 500 million euros per year for public and 1 billion euros for private projects, Matovic said. (Reporting by Jan Lopatka)

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