Italy plans levy on extra-EU parcels, higher taxes on financial transactions

ROME, ‌Dec 11 (Reuters) - High-tax Italy plans to apply a levy on ‍shipments ‌from non-EU countries worth up to 150 euros ($176.31) and intends ⁠to double its tax on ‌financial transactions, as Rome seeks ways to fund costly budget amendments, official documents have shown.

The contribution on low-value postal packages, set at ⁠2 euros for each shipment, is expected to garner 122.5 million euros next ​year and 245 million in both 2027 and ‌2028, according to parliamentary ⁠documents seen by Reuters.

With this move, which is in line with a proposal being discussed at European Union level, Italy ​targets online platforms such as Shein and Temu and aims to protect its fashion industry from low-cost foreign imports mostly from China.

EU customs authorities handled around 4.6 billion low-value ​packages ‍bought online in 2024, ​91% of them coming from China and double the 2023 figure, latest data shows.

The government also intends to increase Italy's tax weighing on the transfer of shares and other financial instruments to 0.4% from a current 0.2%, in a move that ⁠should yield an additional 337 million euros from next year.

Prime Minister Giorgia Meloni's government forecast ​in September that the politically sensitive tax burden -- the level of taxes and social contributions as a proportion of GDP -- is expected to rise to 42.8% this ‌year from 42.5% in 2024, among the highest levels in developed economies.

($1 = 0.8508 euros)

(Reporting by Giuseppe Fonte; Editing by Crispian Balmer)