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Italy continues to water down its bank windfall tax

Italy continues to water down its bank windfall tax
At this point, you have to wonder why Italy even bothered with the bank windfall tax.Weekend reports indicate that the windfall tax on Italian banks -- which has already been watered down since it was introduced in August -- will be virtually scrapped. Rather than paying the levy, which would have been 40% of extra profit between 2021 and 2023, banks can avoid it altogether by allocating 2.5x of the amount of the tax to strengthening Tier 1 ratios.The tax had caused strife within the coalition g... Read More
Posted: Sep 24 2023, 23:09
Author Name: forexlive
Views: 101839

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