The issue of taxes paid by banks is always controversial, because in recent years their bill has fallen so much that, in many cases, they do not even pay but they charge from the Treasury (negative taxes). This is because the huge write-downs (provisions) during the crisis worth about 300,000 million were not deductible, but generated tax credits to reduce the bill in the future (the famous DTA, ‘Deferred Tax Assets’). AND

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