The Spanish example, the Italian failure… The IMF draws up a first mixed assessment of taxes on banking “superprofits”

Are the taxes on bank profits implemented across Europe effective? In a report published last month, the International Monetary Fund (IMF) draws the first conclusions from the mechanisms put in place by European countries to impose these taxes. «superprofits». “EU banks have seen their profits increase significantly since 2022”note the institution’s economists in their report, spotted by The Echoes .

The end of the Covid-19 crisis, the inflationary surge due to the war in Ukraine and the sharp increase in interest rates have largely contributed to the surge in banking profits in Europe. “Against a backdrop of large budget deficits and political economy pressures, many European governments have introduced new taxes on banks”notes the IMF. Spain, Italy, Belgium and Slovenia… In total, twelve EU countries out of 27 have introduced taxes on these «superprofits».