February 27 (SeeNews) - Croatian banks are expected to pay some 25 million euro in total in a newly-imposed windfall profit tax, tailored to redistribute significant earnings of large companies for 2022, the central bank said.
Only a small portion of all eight banks that meet the set revenue criteria could be affected by the new tax, the central bank said on Friday in its report Macroprudential Diagnostics February 2023.
The finance ministry imposed the new tax on all companies that will report a revenue above 300 million kuna ($42 million/40 million euro) for 2022 at the end of last year. The new tax aims to redistribute the excessive profits of large companies made on the back of inflation to ease the negative consequences of price growth on the most disadvantaged individuals.
According to preliminary unaudited figures, the gross profit of Croatian banks for last year is expected to be on the level of 2021, and therefore the regular profit tax for banks could top 150 million euro, the central bank said.
($ = 0.946 euro)