Financial institutions will tax more if their profits exceed 6%

Financial leasing companies, general deposit warehouses, Investment Fund Management Companies (SAFI), stock exchange agencies and securitization companies will have to pay 25% of Additional Rate of Income Tax (AA-IUE) if their profitability exceeds 6%, according to the General State Budget Bill (PGE) 2021. The entities will add to the banks, that already pay this additional tax on their profits for some years.

Source: Página Siete