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Italian tax cut to hit treasury

Italy’s constitutional court has struck down the so called ‘Robin Hood’ tax on energy companies in a move that could deprive the treasury of around €1bn in revenues. The 6.5% levy on the main IRES corporate tax rate for large energy companies was launched in 2008 with the aim of limiting corporate profits due to high oil prices at the time. It was challenged in 2011 on the grounds that it penalised all companies in the sector indiscriminately, reports Reuters.

News Item details


Journal title: Petroleum Review

Region: Europe

Countries: Italy -

Subjects: Policy and Governance

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