The Polish Parliament adopted the bill introducing a new tax on financial institutions (called also a bank levy). The bill was passed for signature of the President. It entered into force from February 1, 2016.
Generally, the tax applies to banks, credit unions, lending institutions, as well as insurance/reinsurance companies.
The new tax applies also to Polish branches of foreign banks (credit institutions) and foreign insurance/reinsurance companies. The funds are out of scope.
According to the new law, the tax base is defined as the surplus of total assets disclosed in the financial institution’s accounting books exceeding certain amount calculated at the end of each month.
In the case of banks and credit unions, as a rule, the tax base will be decreased by the amount of their equity.