Poland's Ministry of Finance could complete work on a planned bank tax some time in the next few months, Deputy Finance Minister Maciej Grabowski told reporters on Monday. At that stage Poland's parliament would be able to vote on it.

The new tax will aim to strengthen the stability of the Polish banking system, rather than contribute to the national budget, said Mr Grabowski.

“This is still a concept but the bank tax has to be a tax that will strengthen the stability of the banking system, and not one that feeds the budget ... I'm not saying exactly when we will be ready with a legislative proposal but it may be in the next few months,” said Mr Grabowski.

Specifically, Mr Grabowski announced that the bank tax would go in to a separate fund which would constitute a reserve for Poland's banking system. The fund will most likely be managed by the Bank Guarantee Fund and would aim to collect a total of zł.700 million annually.

Poland A.M.