Italy considers new tax on banks to cut retailers’ digital payment costs

Italy considers new tax on banks to cut retailers’ digital payment costs

2 months ago

ROME: Italy’s right-wing governing coalition is discussing a “solidarity tax” on banks that will be used to cut fees on digital payments for shopkeepers, lawmakers said on Wednesday.

The government has proposed, in the 2023 budget, to partially shield retailers from those fees by scrapping sanctions if they only take cash for payments under €60 (US$63).

However, the move is seen as going against the spirit of commitments taken with the EU – and encouraging tax dodging in a country where some €100 billion are evaded every year.

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