Industry Funding Levy Information for High Cost Credit Providers
Category G - High cost credit providers
High cost credit providers will be charged a levy comprising a flat element plus a variable element, set as a percentage of reported turnover from regulated activity that exceeds a threshold. These flat and variable elements will be determined annually.
Levy Calculation
The levy for high cost credit providers will be calculated as set out in Table 1 below:
|
Table 1
|
|
|
Minimum Levy plus Variable Levy
|
|
High cost credit providers
|
Minimum Levy
|
Variable Levy
|
|
G
|
High cost credit providers
|
€1,920
|
Variable Levy (V) is calculated as follows:
(A - B) x C
Where:
A = firms’ turnover reported to the Central Bank in section 6.2 of the most recently received Renewal Application for the entity.
B = threshold level of total ‘Turnover’ of €60,000;
C = variable levy rate of 1.178%.
|
Click here to read more on the annual levying process.