Rome, 12 Nov. (LaPresse) – “The contribution that it has become necessary to request from the banking and insurance sectors must not be aimed at weakening them or compromising their ability to support households and businesses. This is not an extraordinary levy on windfall profits, but rather changes to deduction rates defined in advance and, for the most part, temporary. Around 40 per cent of the additional revenue in 2027 stems from the deferral of deductions already accrued, which will be recognised in subsequent years. The thresholds concentrate the levy on the largest intermediaries; over 99 per cent of the additional IRES revenue comes from large intermediaries, and no cooperative credit banks are affected. “And even after these measures, the sector’s average effective tax rate remains lower than that of the rest of the economy.” This was stated by the Minister for the Economy, Giancarlo Giorgetti, during a hearing on the budget before the Budget Committees of the Chamber of Deputies and the Senate.
Giorgetti: “Contribution from banks is not intended to weaken them; no windfall tax”
Rome, 12 Nov. (LaPresse) – “The contribution that it has become necessary to request from the banking and insurance sectors must not be aimed at weakening them or compromising their ability to support households and businesses. This is not an extraordinary levy on windfall profits, but rather changes to deduction rates defined in advance and, for the most part, temporary. Around 40 per cent of the additional revenue in 2027 stems from the deferral of deductions already accrued, which will be recognised in subsequent years. The thresholds concentrate the levy on the largest intermediaries; over 99 per cent of the additional IRES revenue comes from large intermediaries, and no cooperative credit banks are affected. “And even after these measures, the sector’s average effective tax rate remains lower than that of the rest of the economy.” This was stated by the Minister for the Economy, Giancarlo Giorgetti, during a hearing on the budget before the Budget Committees of the Chamber of Deputies and the Senate.