Notes to the consolidated financial statements
46. Events after the end of the reporting period
Until the date hereof, no events that would significantly affect the economic and financial standing of the Group as at 31 December 2015 or for the year ended 31 December 2015 occurred.
The Act on Tax on Certain Financial Institutions of 15 January 2016 (Journal of Laws of 2016, item 68) entered into force on 1 February 2016. It introduces taxation of assets of certain financial institutions, including banks, equal to 0.0366% of the taxable amount per month (0.44% of the taxable amount per annum). The taxable amount is the total value of the bank's assets as at the last day of a given month in excess of PLN 4 billion, less own funds determined as at that date in accordance with Article 127 of the Banking Law and less the value of treasury securities. A liability resulting from this tax, estimated based on the value of the Bank’s assets as at 31 December 2015 would amount to ca. PLN 6 million.