Italy shocks banks with 40% windfall tax for 2023

https://www.reuters.com/world/europe/italy-approves-40-windfall-tax-on-banks-be-limited-2023-2023-08-07/?utm_source=reddit.com

Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a one-off 40% tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward deposits.

#usery #banks #italy #windfalltax #depositors #stiffed