Banks will help the budget less than they did up until last year, with the Finance Ministry anticipating to collect modest amounts from taxing earnings of lending institutions, 80-100 million euros, comparable with those made this year, while the amounts expected from companies are more significant, up to 3 billion euros.
Next year, the Finance Ministry expects to raise as little as 330.2 million RON (78 million euros) from tax levied on banks' earnings, while the corporate tax is set to bring 9.55 billion RON (2.26 billion euros) into the state's coffers.
The authorities expect companies to make nearly 60 billion RON in profits, and cumulated earnings of more than two billion RON from profit-making banks.
The amounts set to be raised from levying tax on banks' profits are 3% higher than the level predicted for 2010, while for companies the expected amounts are 0.95% lower, with the return to growth expected as of 2012.
This year, the banking system will most likely be in the red, according to estimates of players in the sector. Nine months into 2010, losses of the banking system amounted to 474 million RON (110 million euros). Most of the big banks remained in the black, posting an overall 1.3 billion-RON profit, while the remaining banks cumulated 1.77 billion RON in losses.
Banks will help the budget less than they did up until last year, with the Finance Ministry anticipating to collect modest amounts from taxing earnings of lending institutions, 80-100 million euros, comparable with those made this year, while the amounts expected from companies are more significant, up to 3 billion euros.
Next year, the Finance Ministry expects to raise as little as 330.2 million RON (78 million euros) from tax levied on banks' earnings, while the corporate tax is set to bring 9.55 billion RON (2.26 billion euros) into the
