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Thursday, May 23, 2024

AKEL: In the Parliament, the taxation of unexpected profits of the banks

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AKEL's proposal provides for the imposition of an extraordinary fee of 5% on net interest income for the years 2023 and 2024

ΑΕΛ: Σουηφ&omicron ;ρογησροκηερδ&omega ;ν τραπεζν

“Since the government is not moved to act on the issue of accuracy and interest rates, AKEL is proceeding, as we had stated, with our own initiative in the Parliament in order to provide tangible solutions that will relieve society”, the press representative says in a statement of the party, Giorgos Koukoumas.

“The letter of the General Secretary of the K.E. was submitted to the Parliament. of AKEL for legal technical processing of a proposal for a law on the taxation of banks' windfall profits, in order to support the people who saw their loan installments skyrocket due to the successive increases in interest rates”, he adds.

“AKEL's proposal envisages the imposition of an extraordinary fee of 5% on net interest income for the years 2023 and 2024, at the same time putting in place safeguards that prevent the burden from being passed on to borrowers. The resulting revenue is estimated to be around €50 million each year and will be channeled into a special fund to finance the interest rate subsidy for middle and low income borrowers
The government is not feeling the pressure that caused to households and small businesses by the interest rate increases, which – on the other hand – accumulated windfall profits for the banks that exceeded 1.1 billion euros for 2023 alone. The state must intervene decisively in order to return a part to society at least of these profits and this – as it turned out – will not be done with the government's pleas to the banks. AKEL's proposal will provide a solution and a real relief to thousands of households and small businesses”.

Source: www.kathimerini.com.cy

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