Giorgia Meloni's government plans to tax "surplus profits" of "billion" euros from banks to offset the cost to households and businesses of soaring interest rates. A surprise decision that caused the fall of securities in the financial sector on Tuesday. Monte dei Paschi di Siena fell by 10.8%, Bper Banca by10.9% and Banco Bpm by 9%. The Italian tax has also weighed down the shares of banks elsewhere in Europe.
Shares of Italian banks plunge on govt s surprise windfall tax kuwaittimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.com Daily Mail and Mail on Sunday newspapers.
MILAN Italy's right-wing government has unveiled a surprise 40 per cent windfall tax on "surplus profits" generated by the rise in interest rates, sending shares in the country's banks plunging on Tuesday.Prime Minister Giorgia Meloni's ministers agreed the move at a cabinet meeting late Monday, vowing to invest the funds raised into helping households and businesses
Italys right-wing government has unveiled a surprise 40 percent windfall tax on surplus profits generated by the rise in interest rates, sending shares in the countrys banks plunging Tuesday