On 17 December 2015, Poland's lower chamber of parliament (Sejm) approved a proposed tax on financial institutions including banks and insurance and reinsurance companies. The tax was included in a number of proposals made by Poland's Law and Justice Party after taking control of parliament in October ({News-2015-10-30/P/2- previous coverage}). The tax would be levied monthly based on the total value of assets exceeding PLN 4 billion (~USD 1.03 billion) at the following rates: For banks - 0.0325% (0.39% annual); and For insurance and reinsurance companies -  0.05% (0.6% percent annual) The new tax must be approved by the upper chamber...