Giancarlo Giorgetti, Economy Minister, Italy, said that the government has no plans to introduce new additional taxes on profits on banks and other companies on Wednesday, 7 August, 2024.
In August 2023, there was an unprecedented disposal of domestic bank shares after the Italian government introduced a 40% tax on bank profits from rising interest rates. The government quickly dismissed the levy and offered lenders the choice to increase their capital reserves instead of paying the levy.
Earlier, various media reports speculated that the government would impose new taxes on bank profits, creating uncertainty among investors and putting pressure on bank shares. Bank executives have opposed the plan, asserting that the banking sector is already contributing a sufficient amount in taxes under the current tax regime.
