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irradiated @radiation.party

1y ago

HN

Italy shocks banks with 40 percent windfall tax for 2023

www.aljazeera.com Italy shocks banks with 40 percent windfall tax for 2023

The move comes after higher interest rates have yielded record profits for banks as the cost of loans has soared.

Italy shocks banks with 40 percent windfall tax for 2023

[ comments | sourced from HackerNews

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NightOwl @lemm.ee

1y ago

Italy shocks banks with 40 percent windfall tax for 2023

www.aljazeera.com /news/2023/8/8/italy-shocks-banks-with-40-percent-windfall-tax-for-2023

Italy shocks banks with 40 percent windfall tax for 2023

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2 comments

The issue here isn't the tax, but the unpredictability. That's no way to tax a sector, and it shows in the market reaction.

Is that a statute of a hand flipping the bird in front of their central bank?