Banks have a tax on surplus profits: what is it for and how much is it worth

Banks have a tax on surplus profits: what is it for and how much is it worth

of the many measures contained in the so-called i order all (which are actually two: Here you will find all the rules approved by CDM), the rule of taxing the surplus profits of banks has aroused special interest.

if on one side Majority and Opposition Reactions they share on the goodness of measure, on the other market They seemed less than thrilled, thief Heavy fall in shares too of the region immediately after the approval of the measure. But what does the new rule sought by the Meloni government represent?

How much is the levy on excess profit of the bank?

The rule has come on the surplus profit of the bank “Wonder”, Withdrawal of amount will be limited till 2023 (Regarding 2022 and 2023 Financial Statements) and the public revenue will be adequately utilized in two areas:

  • Assistance in first home loan;
  • tax cut.

The government later decided to intervene rate hike by ecb ,which we talked about here), which resulted in Increase in cost of funds for households and businesses, “Diligent, fast and significant growth has never been equal to consumers. so in this gap you will get a count 40% withdrawal from billions of dollars of bank profits“, explained the Deputy Prime Minister at the press conference Matthew Salvini,

How much is the Excess Profits Tax worth and how does it work?

Soon after the CDM’s approval, Salvini said, “Let’s ignore the merits of the figures.” “However, just looking at the banks’ profits for the first half of 2023 is enough to understand that we are not talking about a few million, but we can hypothesize about a few billion”. According to a first approximation, the remedy should lead to more than two billion euros in the exchequer,

40% decline to begin if net interest income is recorded in 2022 “at least more than 3%” Price for the year 2021. Percent If you compare 2023 to 2022, it increases to 6%, la tassa In any case, it cannot exceed 25% of the value of shareholders’ equity on the date preceding the financial year ending January 1, 2023.

extraordinary tax It is not deductible for income tax and regional tax purposes should be paid more on productive activities within the sixth month after the close of the financial year preceding the current financial year on 1st January, 2024 (Where banks are closing: Goodbye branches in more than 3 thousand municipalities,

The text licensed by the CDM also states that “subjects that, by virtue of legal provisions, approve financial statements after the deadline Four months after the end of the financial yearmay be paid within the month following the sanction of the budget”. For subjects having Fiscal year doesn’t match calendar yearIf the period specified in the first two periods is expiring in 2023, the payment is made in 2024 and, in any case, by January 31.

Politics and Market Reactions

,This is not a remedy against the banksBut there is a provision for the protection of families and all those subjects who have found themselves in difficulty in paying the mortgage”, reassured the minister. Antonio Tajani, Salvini called it “the measure of evenness”.

she didn’t seem very agreeable business squarethat next morning yes burned 10 billion euros, The fall of bank shares was inevitable from the very first hour of trading on the stock exchange. Experts say that “the new effect is even greater than the simulation we ran in April.” As per calculation, Net profit of banks in 2023 can be reduced by about 10%.





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