December 2, 2022

Italy to Increase Power Windfall Tax to Finance €35 Billion

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Italy to Raise Energy Windfall Tax to Finance E35 Billion

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(Bloomberg) — Italy has authorised a €35 billion ($36 billion) funds regulation for subsequent yr which plans to lift a windfall tax on further earnings made by firms promoting power so as to broaden power support aid to households and companies.

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The brand new funds, the primary introduced by Giorgia Meloni’s right-wing administration, plans to extend the tax charge on further revenue made by promoting power to 35% from the present 25% in 2023, consistent with…

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