Prime Minister Vasile Tofan announced that one of the proposals under the 2027 tax policy will be to increase the tax imposed on banks, reports TRIBUNA.

“We will increase the tax on banks and financial institutions by 50%.

This is not a reason for applause. I have an analytical mindset, I have done the calculations, and I take responsibility for this decision. There are risks associated with this initiative: every one leu removed from banks’ capital could lead to a reduction of six lei in lending. However, at this stage, I believe this measure is important,” the Prime Minister said.

The Prime Minister clarified that the corporate income tax rate for banks will be increased by 50%, from 12% to 18%.

“It is ironic that I myself came from this sector, but I have calculated everything carefully, weighed the pros and cons, and I believe this tax is justified. We will introduce it in the 2027 tax year. At this point, I believe the benefits of this measure outweigh the risks. It is expected to generate nearly 600 million lei in additional budget revenue,” he added.