Eight Lithuanian commercial banks and credit unions have paid 101.6 million euros in the so-called solidarity tax, a temporary levy on excess profits, the State Tax Inspectorate told BNS on Thursday.
“Solidarity levy premiums amounting to 101.6 million euros have already been paid and eight financial institutions have transferred them,” Rūta Asadauskaitė, spokeswoman for the tax authority, told BNS.
Šiaulių Bankas told BNS earlier it would transfer more than 2.6 million euros in the second windfall tax instalment. And Luminor already transferred 12.5 million euros at the beginning of the week. The other major banks are yet to announce the amounts they have paid.
Banks in Lithuania had until the end of November 30 to make the second payment.
The Bank of Lithuania estimates that the proceeds from the windfall tax will exceed 100 million euros for the third quarter of this year, and that the total contribution could reach around 250 million euros this year.
The government introduced the tax in response to windfall profits enjoyed by the banks in Lithuania thanks to the interest rate hikes by the European Central Bank. The proceeds are to be used for defence infrastructure.
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