Austria : Bank levy reform set to include 1 bln eur bill for lenders
Mon Jul 11 2016
Austin Collins (258 articles)

Austria : Bank levy reform set to include 1 bln eur bill for lenders

VIENNA : Austria’s government is set to announce its bank levy reform on Tuesday, which will likely include a collective 1 billion euro ($ 1.1 billion) one-off bill to lenders in exchange for deducting Europe-wide dues from the national bank tax, sources said.

Two sources close to the negotiations, which are ongoing, said on Monday it was not yet clear how the roughly 1 billion euros, which represent around two years’ worth of Austria’s bank tax, would be staggered, if at all.

A third source close to the negotiations said 1 billion euros was the maximum amount banks had been willing to pay.

Austin Collins

Austin Collins

Austin Collins is our Europe, Asia, & Middle East Correspondent. He covers news related to Stock Market. In past he has worked for many prestigious news & media organizations. He is based in Dubai

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