Budget, Patuelli (ABI): ‘I am not getting involved in the controversy, taxes on bank income over 50%’

Rome, 25 October (LaPresse) – ‘I am not getting involved in the political controversy and election campaigns’. This was stated by ABI President Antonio Patuelli in an interview with Tuttosoldi, an event organised by La Stampa in collaboration with the Collegio Carlo Alberto, in response to a question about the budget and the statements made by Deputy Prime Minister Salvini. ‘The figures,’ Patuelli pointed out, “are not accurate; gross revenues should not be confused with net profits. Even before the budget law, banks pay IRES, corporate tax, which is 24%, and an additional 3.5%, they pay IRAP with an additional 0.75%, and shareholders do not receive dividends already net of taxes on gross income: when they receive dividends, they pay another 26% withholding tax, which used to be called cedolare secca. If you add up these taxes, you can see that taxation on gross banking income is well over 50%’.