Italian Economy Minister says the budget increase IRAP corporate tax on financial sector by 2 percentage points
- Budget allows banks to unlock reserves set aside to avoid 2023 windfall tax.
- Government pressing ahead with state asset sales and have stakes need to divest.
- Budget sets restrictions on ways financial firms use past losses to lower their tax bills.
- Government also relying on new tax regime for bad loans to fund state licenses.
Analysis details (12:22)
- It was announced that Italian banks/insurers will incur a EUR 11bln tax increase over the next three years.
17 Oct 2025 - 12:20- - Source: Newswires
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