Facility currently raises €87m a year
PTSB, formerly known as Permanent TSB, was disproportionally affected by the previous basis of calculation of the bank levy, which was off the level of deposit interest retention tax that banks collected and passed on to the Revenue Commissioners. Photograph: Alan Betson/The Irish Times
PTSB, formerly known as Permanent TSB, was disproportionally affected by the previous basis of calculation, which was off the level of deposit interest retention tax that banks collected and passed on to the Revenue Commissioners. The levy will switch next year to being charged at a rate of 0.112 per cent of the deposits held by the three domestic banks that are covered by the European Union Regulations 2015. The scheme, administered in the Republic by the Central Bank, covers deposits of up to €100,000 per customer per bank.Energy beams: Market for long-distance wireless transmission of power not yet viable
PTSB paid a levy of €22 million last year, compared to €25 million at Bank of Ireland and €37 million at AIB. However, its €21.7 billion of deposits at the end of 2022 were a little over the fifth of the size of the total deposit books of each of its two larger rivals.
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