Tax Authority, the maneuver aims at a new increase in the Tobin tax on stock purchases

The Italian government is planning to increase the Tobin tax on financial transactions as part of a broader financial package aimed at raising 5 billion euros. The proposed changes include raising the tax on stock purchases from 0.20% to 0.40% for regulated markets and from 0.40% to 0.60% for unregulated markets. Additionally, the tax on high-frequency trading would rise from 0.04% to 0.06%. These measures are intended to enhance revenue from the financial sector, which has shown significant growth in tax contributions since previous increases. The government aims to negotiate with banking representatives to address concerns about the impact of these tax hikes on market operations.