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Italy waters down windfall tax on banks

2023-08-09 23:59
The announcement prompted a rebound in the share prices of Italy's lenders.
Italy waters down windfall tax on banks

Italy has watered down plans to hit its banks with a windfall tax, leading to a rebound in the share prices of the country's lenders.

On Monday night, the government passed a one-off 40% tax on the profits banks earn from higher interest rates, in a shock move that saw shares plummet.

It...