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