Monday, March 6, 2017

Banks to generate $1.2 billion in taxes. The levy on swap is enough to cover salary scale


The Association of Banks (ABL) said that banks will pay $850 million in corporate income tax generated by the swap operations carried out with the Central Bank (BDL) in 2016.

Banks were to pay $322 million in corporate income tax for the year 2016 on all operations, excluding the gains on swap operations. Bank shareholders will also pay a dividend tax of almost $56 million, bringing the total to be paid by banks and their shareholders to $1.23 billion.

ABL said the tax on the swap...

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