ROME (Reuters) – Italy plans to increase revenue by around 0.2% of its gross domestic product (GDP) in 2025, or around 4 billion euros, by changing tax rules for banks, insurance products and gambling operating licenses, Rome said on Wednesday in its draft budget plan (PPB).

Submitted to the European Commission for approval, the PPB estimates that the increase in revenue will amount to precisely 0.168% of GDP and will contribute to the consolidation of public finances.

The Italian government plans to raise 3.5 billion euros from national banks and insurers to finance the national budget, with the cabinet of Prime Minister Giorgia Meloni having approved on Tuesday the budget plans for the next three years.

According to the PPB, revenues from banks, insurers and gaming will decrease by 0.073% of GDP in 2026 and by 0.096% in 2027.

Italian officials say the levy would stem from a change in the taxation of stock options for executives and the rules governing bank tax credits, known as deferred tax assets. .

Economy Minister Giancarlo Giorgetti will hold a press conference on Wednesday to detail the measures planned for next year. He said last week that a contribution from banks “should not be considered blasphemy”.

The idea of ​​a tax on banks, discussed for weeks, weighed on shares in the sector, in the absence of clarity from the government.

According to analysts, this measure should not have a major impact on the profitability of banks.

“It is not a tax, but rather a loan, an advance on the taxes to be paid,” explains a Milanese trader.

On Wednesday morning, the main Italian banks opened up between 0.2% and 0.7% in Milan.

(Report by Giuseppe Fonte, by Etienne Breban, edited by Augustin Turpin)

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