Russia’s Largest Tech Company Is Fleeing Moscow – OilPrice.com
Italy plans to impose next year a one-off windfall tax of 50% on the extra income energy firms have booked as a result of the rise in oil and gas prices, according to a draft budget bill Reuters saw on Monday.
The windfall tax is different from what the government released as plans for a rise in the levy on extra profits just last week.
In the $36.6-billion (35 billion euros) budget law the government approved early on Tuesday last week, Italy planned 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.
In the latest version of the windfall tax plan seen by Reuters, the tax is 50% of the part of 2022 income which is at least 10% higher than the average income reported between 2018 and 2021.
Whatever the final tax on energy firms will be, it is clear that Italy will be…
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