Special bank levy doubled

Banks in Slovakia will pay a higher bank levy next year. While it is currently 0.2 percent of the balance sheet liabilities of banks, the rate will double to 0.4 percent next year while the measure should also remain valid over the following years. Once the proposal is approved, banks will transfer approximately 144 million euros more to the state's financial assets next year. At the same time, the state should collect this levy from banks after 2020, although the special bank levy should have been abolished from 2021. This stems from the draft amendment to the law on a special levy for selected financial institutions which Parliament approved in the third reading. Parliament was dealing with this draft amendment in an expedited legislative procedure.