Government proposes tax on banks and insurers for Reserve Bank prudential regulation
The government is proposing a tax on banks and deposit takers to fund the Reserve Bank's prudential regulation costs.
The government has outlined a proposal to tax banks and other deposit takers for the cost of the Reserve Bank's prudential regulation work. The tax would raise $113 million from banks and deposit takers over three years, and $81 million from insurers. The Reserve Bank says it has not previously separated out prudential regulation costs from its other expenses, making this calculation necessary for the first time.
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interest.co.nz
RBNZ outlines convoluted government prudential regulation tax proposal
Proposed tax for Reserve Bank's prudential regulation could see banks and other deposit takers pay $113 million over 3 years, and insurers pay $81 million
interest.co.nz
RBNZ hasn't separated prudential regulation costs from other costs before
Reserve Bank says breaking out the cost of its prudential regulation has only become necessary because of the Government's proposed tax