Deputy Prime Minister Matteo Salvini proposed a new levy on Italy’s 10 largest banks. The proposal establishes a three-year tax period. The levy imposes a 5% tax on annual profits. This tax triggers if total sector profits reach €30 billion. The measure aims to raise €1.5 billion annually for public finances.
The proposal targets the country's most profitable financial institutions for the 2027 budget. Intesa Sanpaolo and UniCredit reported combined first-half profits of nearly €12 billion. This performance suggests the sector will exceed the €30 billion profit threshold.
The new levy follows previous tax increases on the financial sector in the 2026 budget.