Italy is raising the windfall tax on energy companies in its 2023 budget bill to fund additional help to consumers amid high energy prices and inflation. In the $36-billion (35 billion euros) budget law the government approved early on Tuesday, Italy plans to raise the tax on the extra profits of the firms selling energy to 35% from 25% through the middle of 2023.
Next year, the tax rate on energy firms will be calculated differently and will be based on the additional net profits the companies declare, not on sales. The budget, the first for Italy’s…Italy Raises Windfall Tax On Energy Companies
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