ROME Dec 13 The Italian government modified a
planned tax on financial transactions on Thursday, raising the
tax rate for share transactions but postponing a decision on the
rate for derivatives.
Under an amendment inserted in the 2013 budget law, the
government also delayed by a few months the introduction of the
new levy, initially planned for Jan. 2013.
Share transactions will be subject to a tax rate of 0.12
percent from March 2013, falling to 0.1 percent from 2014,
according to the amendment.
Market makers and share trading in companies with a market
capitalisation of less than 500 million euros will be exempt
from the tax. Trading in derivatives will be taxed at a fixed
rate, yet to be determined, from July 2013.