Italy to raise 0.44% of GDP from financial sector through 2029 to fund budget

Business Recorder reported that Italy intends to collect a sum equal to 0.44% of its gross domestic product from financial firms between 2027 and 2029. The plan appears in a government document released on Thursday, which is meant to support the budget.

Unlike a single one-time charge, this levy is lasting. Its yearly figures start at 0.21% of GDP for 2027, decline to 0.13% for 2028, and reach 0.1% for 2029. These numbers are set out in the Draft Budgetary Plan that was sent to European Union authorities.

The report concerns Italian fiscal policy rather than any development in Pakistan, and no PSX-listed company is named in it. The levy covers the three years from 2027 to 2029, according to the draft.