On 21 January 2023, Italy published Decree no. 209 of 4 October 2022 from the Ministry of Economy and Finance in the Official Gazette, which provides for the implementation of Article 111-bis of the consolidated text of the laws on banking and credit pursuant to Legislative Decree no. 385 of 1 September 1993. Article 111-bis was inserted as part of the Budget Law for 2017 (Law no. 232 of 11 December 2016) to provide a taxable income reduction for banks engaged in "ethical and sustainable finance". This includes a reduction in taxable income equal to 75% of the amount of...