Italy to Implement Windfall Tax on Companies, Giorgetti Emphasizes Prudent Attitude

Oct 3, 2024, 03:32 PM

Italy plans to implement a windfall tax on companies that have benefitted most from recent economic turbulence in an effort to narrow the country's budget deficit. Finance Minister Giancarlo Giorgetti stated that the budget law will require sacrifices from all sectors, including defense, and that Italy will maintain a prudent attitude towards its budget. The move follows similar actions in France and aims to generate additional revenue to address the fiscal challenges faced by the nation.