Italy Prepares 50% Windfall Tax on Energy Firms’ Excess Gains
Power lines near a residential area in Brescia, Italy.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
Italy plans to apply a 50% one-off windfall tax on the extra revenue made by energy companies, according to the text of the proposed budget law obtained by Bloomberg.
The new budget presented by Premier Giorgia Meloni’s right-wing administration is making its way through parliament and must be approved by the end of the year.