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FINANCIALS: Italian Corporate Windfall Tax Headlines

FINANCIALS
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  • Italy plans a windfall tax on companies benefiting from recent economic conditions to reduce the budget deficit, targeting several industries and not just banks.
  • While banks may not be singled out, sectors like defence, which benefited from the Ukraine war, will likely contribute more as per reporting on his speech.
  • “There will be a general call for everyone to contribute, not just banks”…“it will be reasoned and rational”. He also indicated that measures will fall under current government powers as per the constitution.
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  • Italy plans a windfall tax on companies benefiting from recent economic conditions to reduce the budget deficit, targeting several industries and not just banks.
  • While banks may not be singled out, sectors like defence, which benefited from the Ukraine war, will likely contribute more as per reporting on his speech.
  • “There will be a general call for everyone to contribute, not just banks”…“it will be reasoned and rational”. He also indicated that measures will fall under current government powers as per the constitution.