Italy shocks banks with 40 percent windfall tax for 2023
Italy shocks banks with 40 percent windfall tax for 2023
www.aljazeera.com Italy shocks banks with 40 percent windfall tax for 2023
The move comes after higher interest rates have yielded record profits for banks as the cost of loans has soared.
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They have since announced that it will be capped at 0.1% of a bank's assets: https://edition.cnn.com/2023/08/09/business/italy-bank-windfall-tax-change/index.html
It should be noted that this was in response to bank stocks rapidly collapsing. It seems pretty doubtful that this was planned or they would have included it in the original announcement.
Or they wanted the headlines for people who will never read the update.
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