Hampartzoumian: Banks do not know details about the new tax on bank deposit interest

“Banks do not know yet the technical details of the projected tax on bank deposits interest, which are to be specified between first and second reading in Parliament,” Levon Hampartzoumian, CEO of UniCredit Bulbank and Chairperson of the Executive Board of the Association of Banks in Bulgaria, told BNR. “What I can tell you as a citizen is that ever since people started paying taxes to organisations or the State, from ancient times till today, the raising of taxes has never been welcomed with enthusiasm,” said Hampartzoumian. “The actual question is not how banks will cope technically with the collection of the tax on the interest earned on deposits. They will cope with it well, as they do with many other things. You should ask Finance Minister Simeon Djankov why he is introducing this tax,” added Hampartzoumian.

He criticised the idea of allowing the State Agency for National Security (SANS) to have free access to banking information, even if it is not directly connected with the investigation process. “Without knowing all the details of the draft bill, I think that keeping bank secrecy and controlling access to it is important for peace in society and preventing the misuse of information by employees of the services that are interested,” commented UniCredit Bulbank’s CEO. According to him, the problem is how to encourage the enterprising spirit of people, so that the economy would grow faster. This is the key problem that should be the concern of banks and citizens.

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