October 23, 2018 / 8:47 AM / 10 months ago

Italy plans to spread banks' deferred tax assets from M&A over 10-years: source

MILAN (Reuters) - Italy plans to force banks to spread over 10 years deferred tax assets stemming from mergers with the view of raising 1.2 billion euros ($1.4 billion) in 2019 from the measure, a government source said on Tuesday.

The government is looking for ways to finance its expansionary 2019 budget and is targeting the financial sector to raise money.

The source said the spreading of the deferred tax assets was meant to replace another measure the government was considering, meaning a cap to the amount of interests paid that banks could deduct from their taxable income.

Reporting by Giuseppe Fonte, writing by Valentina Za

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