“…Italy’s bank tax remains controversial as government scrambles to update it”
September 4, 2023
“…Europe’s main bank stock index fell almost 3% on Aug. 8, after the Italian government announced plans to impose a 40% windfall tax on banks’ profits. The move caught traders off guard and sent shockwaves throughout the continent. The market reaction and wide-spread backlash pushed Rome to tone down the plans within 24 hours…
“It’s something that all the international investors will look at saying: ‘Wow, this is very dangerous. I don’t want to make an investment here in Italy, long-term investments, knowing that the government can jump in and say okay, I’m gonna take part of your profit’,” he told CNBC’s Steve Sedgwick at the European House Ambrosetti Forum…”
https://www.cnbc.com/2023/09/04/italys-tax-on-bank-profit-continues-to-prove-controversial-.html