No extra taxes on bank profits – Italy’s Giorgetti

Italian Economy Minister Giancarlo Giorgetti announced that the government has no plans to impose additional taxes on bank profits, aiming to dispel press speculation about new levies on banks and other companies.

At a press conference on Wednesday, Giorgetti questioned the origin of the rumours, clarifying that “banks, like other profitable entities, will be called upon to contribute to public finances just like all residents.”

He emphasised, “There won’t be any tax on ‘extra’ bank profits. But ordinary taxes on bank profits? Yes.”

Attribution: Reuters