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Italy pushes for an excess-profits tax: “Ready to act alone”

Italy, Germany, Spain and Poland are pressing for an EU-wide tax on excess profits, while Brussels is slowing the process.

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What is happening

The proposal has been postponed to the October Ecofin meeting. Italy has indicated that the countries supporting the initiative could proceed alone.

Why is it on the Radar?

The issue remains contested at EU level, with Rome and its allies pushing for action while Brussels has delayed the discussion.

Sources and timeline