Situation ReportAug 8, 2023 | 16:33 GMT
Italy: Rome Announces Surprising 40% Windfall Tax on Banks
The Italian government announced a 40% windfall tax on record-high bank profits, and the expected 2 billion euros ($2.2 billion) in government revenue will fund relief measures for mortgage holders struggling with rising interest rates and households coping with the cost-of-living crisis, Reuters reported on Aug. 8.
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