Commercial banks last year paid 276.84 million RON (65.9 millioneuros) as banking corporate tax, with the amount being around fourtimes lower than that paid in 2009, according to data sent to ZF bythe Finance Ministry.
The budget "lost" a big part of the resources it received inbooming years from the banking sector, with the corporate taxespaid by credit institutions being much lower amid a deepeningeconomic recession and a lending "freeze".
At the same time, payments made by the central bank to the budgettotal 1.1 billion RON. According to Finance Ministry data, in thefirst 11 months of 2010, the central bank transferred 934.07million RON to the budget, in the account where the NBR transfersamounts from its net revenues.
In 2010 the banking system was most likely in the red, according toindustry estimates. Nine months into 2010, losses of the bankingsystem reached 474 million RON (110 million euros).
In accordance with the Fiscal Code, banks make corporate taxpayments in advance. So, what the banks paid in 2010 to the budgetis the advance tax due for 2009 profits, while amounts collected in2009 correspond to the record-high profits recorded in 2008.
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