VILNIUS, May 9 (Reuters) - Lithuania's parliament on
Tuesday approved a windfall tax on the banking industry's net
interest income for 2023 and 2024 following a sharp rise in
European Central Bank rates amid soaring inflation.
The 60% levy on the part of net interest income that exceeds
the average of the previous four years by 50% is estimated to
raise 410 million euros ($451 million) for the government's
budget, and will be used to boost the military.
($1 = 0.9084 euros)
(Reporting by Andrius Sytas in Vilnius; editing by Terje
Solsvik)
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