Italy Raises Windfall Tax on Energy Industry Profits to 25%
- Rome has spent 20 billion euros to shield its economy
- Draghi government approves 14 billion-euro aid package
Mario Draghi
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Italy raised its windfall tax on profits in the energy industry to 25% from 10% while approving a 14 billion-euro ($15 billion) aid package to shore up companies and consumers hit by surging costs.
The new measures, announced Monday evening by Finance Minister Daniele Franco, don’t include additional deficits, and Rome will also extend tax breaks for energy-intensive industries.