BNB Governor: Additional Taxation of Bank Profits Could Lead to More Expensive Credit
8 Articles
8 Articles
The proposed additional taxation of bank profits could lead to more expensive or more difficult-to-access credit, limit private investment and increase the cost of government financing, warned Bulgarian National Bank (BNB) Governor Dimitar Radev. “Raising taxes has a price,” Radev said in a statement published on the BNB website, quoted by BTA. According to him, when the tax affects financial intermediation, part of the burden can be shifted out…
Raising taxes has a price. When the tax is on financial intermediation, part of that price can go beyond the taxpayer. This is stated by the Governor of the Bulgarian National Bank (BNB) Dimitar Radev in a comment on the proposed additional taxation of bank profits. We publish the full statement: “On taxes, credit and growth The proposals for changes in tax legislation are part of […]
Two days after the Ministry of Finance announced its intentions for changes in tax laws, which include taxation of excess profits of businesses in several sectors, BNB Governor Dimitar Radev commented on this intention in the banking sector. WITH...
Proposals for changes in this legislation include the budgetary process. Decisions are based on the competence of the Government and the People's Assembly. The BNB does not loan the country into political debate for budgetary priorities. When presenting a professional assessment, you can proceed from the proposal for the financial system and economy. This is the result of financial conditions, credit, bank stability, and the interaction between …
The government's proposed additional taxation of bank profits could lead to more expensive and more difficult-to-access loans, limit private investment and increase the cost of state financing. This was warned by BNB Governor Dimitar Radev in a statement published on the central bank's website. According to him, increasing taxes on financial intermediation has an economic cost that does not necessarily remain at the expense of banks. They can re…
BNB Governor Dimitar Radev issued an unusually sharp warning against the Radev cabinet's idea of additional taxation of the profits of ...
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