2023-09-06 12:46:59
At the head of Confindustria, the main Italian employers’ organization, Carlo Boomi described as a “forced levy” the future tax on the “excess profits” of banks announced by Rome.
Carlo Bonomi, president of Confindustria, the main Italian employers’ organization, strongly criticized on Wednesday the tax on “excess profits” of banks announced in early August by the Meloni government, calling it a “forced levy”.
“I never read the term ‘overprofits’ in my study books, just as I never read ‘overlosses’ or ‘overbalance’ of accounts,” he told a meeting of its organization in Bologna in northern Italy.
“I understand very well what we mean, but it is probably not the case of those who speak regarding it”, he launched. Carlo Bonomi assured that “the subject was born in Europe, where we analyze what has happened since the pandemic” of Covid-19 and check “by how much the gross operating margin has increased” of companies.
“Imposing a tax on a balance sheet line is what I would call a forced levy,” he argued.
“Adjustments and Balances”
This contribution from the banks, announced in the greatest confusion with a draft decree which was reviewed twice in 24 hours, should bring in between 2 and 2.5 billion euros. A 40% levy will be made either on the part of the net interest income for 2022 exceeding by at least 5% the amount for the 2021 financial year, or on the profits for 2023 for which the threshold is set at 10%.
A clear majority (62.8%) of the big bosses gathered in Cernobbio (north) for the forum The European House – Ambrosetti declared themselves opposed to this tax, during a poll carried out by the organizers. The government’s move was “right in intentions and in substance”, but “totally wrong in the way it was carried out and especially in the disorderly and clumsy communication”, Valerio De Molli, CEO, told AFP. by The European House – Ambrosetti.
The Minister of Economy, Giancarlo Giorgetti, speaking at the forum, “assured that there would be important adjustments and balancing” of the tax, he added. Giancarlo Giorgetti said on Sunday that the bank tax might “surely be improved” and admitted communication hiccups, but argued that this tax was “fair”.
As for fears of a possible extension of such a tax to other sectors, Valerio De Molli said he did not expect “a new clumsy mistake”. “I think the government has learned from its mistakes.”
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