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Italy is planning to raise approximately 4 billion euros in 2025 through changes in tax regulations affecting banks, insurance products, and gaming licenses, according to Rome’s draft budgetary plan. The document, submitted to the European Commission for approval, projects higher revenues amounting to 0.168% of GDP to help strengthen public finances.

Prime Minister Giorgia Meloni stated that the new strategy for generating revenue was developed following a productive dialogue with stakeholders in the financial sector. She emphasized that the intention is not to portray banks as adversaries. The measure had minimal impact on the stock prices of Italy’s major banks and insurers.

Economy Minister Giancarlo Giorgetti mentioned that banks and insurers would contribute more than 3.5 billion euros to state finances next year. Additionally, deductions related to banks’ tax credits from past losses will be frozen for the next two years, temporarily increasing taxation on profits.

The Treasury anticipates collecting 1 billion euros from insurers by adjusting the payment terms of stamp duties for certain insurance policies. Changes to the taxation of stock options for managers were also implemented in the budget plan.

Revenues from banks, insurance products, and gaming are expected to decrease by 0.073% of GDP in 2026 and by 0.096% the following year. Italy’s decision to impose a 40% tax on banks’ windfall profits last year caused market turmoil, but adjustments made to the levy ultimately resulted in zero revenue for the state.

The exchange rate at the time of writing is $1 = 0.9190 euros.

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