Italy to impose new tax on energy companies – Reuters ...News

Russia Today - Economy
Italy to impose new tax on energy companies – Reuters
source : Russia Today ( News ) () 19
The levy will reportedly apply to excess revenues from surging fuel costs The Italian government is planning to apply a 50% windfall tax to the income that energy companies have received due to the rise in global oil and gas prices, Reuters reported on Monday, citing a draft of the country’s 2023 budget. According to the report, it will be applied to the part of a company’s 2022 income which is found to be at least 10% higher than its average between 2018 and 2021. However, the tax will be capped at 25% of the value of each company’s net assets as of the end of 2021. Under the terms set out in the budget, it is ex

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