Italy Aims to Get More Tax Out of Most Profitable Companies

Finance chief Giorgetti is fighting to narrow budget deficit
Minister faces tricky balancing act after missteps last year

WATCH: Italy’s Finance Minister Giancarlo Giorgetti said companies that have benefited the most from particularly favorable economic conditions of recent years will be asked to contribute to the country’s debt reduction efforts.Source: Bloomberg

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By Chiara Albanese and Alessandra Migliaccio

October 3, 2024 at 12:15 PM UTC

Updated on

October 3, 2024 at 1:26 PM UTC

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Italy plans to raise taxes on the companies that benefitted most from the economic turbulence of recent years in order to help bring down the country’s budget deficit, Finance Minister Giancarlo Giorgetti said.

Giorgetti said that he is looking at levies that would apply to companies in a number of industries, without offering any further detail. Italy’s benchmark stock index fell as much as 1.5%.