Italy introduces tax on banks’ excess profits – banks

2023-08-07 19:44:03

Rome – The Italian government is introducing a tax on bank profits. The measure, which was decided for reasons of “social fairness”, only applies to 2023, said Minister of Transport and Deputy Prime Minister Matteo Salvini following a Council of Ministers meeting in Rome on Monday. The tax should burden the excess profits, which the banks write thanks to the high interest rates. A deduction of 40 percent is planned by the end of this year, it said.

1691437725
#Italy #introduces #tax #banks #excess #profits #banks