The CDBK opposes the continuation of the CBK decision on the fee for depositing coins
The Chamber of Doing Business in Kosovo (CDBK), in a press release, strongly opposed the continuation of the tariff imposed by the CBK for depositing coins, demanding the immediate removal of the latter. The CDBK also requests from the Assembly of Kosovo, the Government of Kosovo and the board of the CBK substantial changes in the executive, in order for the Central Bank to have a much more supportive business policy than it has been so far.
The CDBK has continuously expressed concern about the non-work of the CBK and its non-response in accordance with the needs of the business, especially during the time of pandemic.
"For several years now, the CDBK has repeatedly demanded that such a fee should be removed, because it is seriously damaging businesses that operate with coins. Consequently, metal currency is being taxed and businesses have been deprived of 5% of the deposited coins. Businesses in many cases do not make a profit from 5% of turnover, so, this fee is very high. As an example of depositing over 10,000 euros coins to commercial banks, 500 euros are taken from businesses for this", reads the press release of the CDBK.
The CDBK says that the businesses most affected by this decision are bakeries, markets, small shops, etc., which mostly work with coins, which operate with very low profit margins, thus a great burden for these businesses is the application of this fee.
"We demand that this fee be reviewed, and be 0.0%, because it is worsening the climate of doing business, the operation of the business that operates with coins, a fee which is proving to be very costly", reads the press release of the CDBK.
We recall that the Central Bank of Kosovo has decided to reduce the fee for depositing coins denominated in euros, according to which from 01.03.2022 decreases from 5.00% to 3.75%.