tax on bank profitsHe Georgia Meloni claimed as a just and dutiful provision, many have made capriciousness inside majority of the government, especially on the Forza Italia front. But discontent has spread beyond national borders to Germany’s headquarters in Frankfurt am Main European Central Bank,
What does the ECB say about the tax on excess bank profits?
A Letter With regard to the tax on the surplus profits of the bank reached the Ministry of Economy by the European Central Bank. the letter will have “a” blatant censorship to the provision” because it is recognized that the measure “potentially” may represent an event”bad for the economy and debt,
The revelation that made Georgia Meloni’s summer less peaceful corriere della sera, But the matter is more complicated than it seems: it is true that the letter comes from the ECB, but i input (which later turned into a red-hot missile) comes from italy yourself.
ECB’s criticisms will be a matter of concern both substance and form:il Courier writes that the government is also contesting elections failure to notify in advance To the Bank of Italy and the ECB. In fact, the EU treaty establishes that the Frankfurt Institute “shall be consulted by the national authorities on every draft law” that falls within its competence.
This was confirmed by an ECB spokesperson and a MEF spokesperson. sol24orePresident Christine Lagarde Receives “La” Official Request for Consultation” From Italy’s Finance Minister, Reason: Given the sensitivity of the matter, any intervention by national governments on the banking system requires ECB official opinionto avoid harmful effects monetary policy I financial stability,
The MEF (Ministry of Economy and Finance) was therefore forced to request the opinion of an institution led by Christine Lagarde in compliance with European law.
The reference standard is the decision of the European Council of 29 June 1998, according to which the authorities of the member states “consult the ECB on any draft legislative provision which falls within its competence in accordance with the Treaty”. In particular, the ECB is called upon to “evaluate the rules applicable to financial institutions to the extent that they affect the stability of these institutions and financial markets”.
What is Bank Excess Profit Tax?
The tax on banks’ surplus profits imposes a levy on the earnings of credit institutions, calculated on the difference between interest income and interest expense.
active interests They are what banks collect to give loans and mortgages. passive interest Instead they are the amounts that the bank pays to its customers.
Forza Italia against the tax on surplus profits
But, as expected, the tax on surplus profits angered the majority. According to journalistic revelations it will be Marina Berlusconi who did not like this measure. The reason is that the tax is going to hit MediolanumHistorical bank of the Berlusconi family.
Forza Italia, from the mouth of national secretary Antonio Tajani, has already requested some corrective action:
- must be tax deductible,
- Its one-off nature needs to be reaffirmed,
- Local banks should be kept out.