The government of Italy is planning to increase the tax on proprietary trading, The Wall Street Journal reports. The tax on the money earned by banks from proprietary trading is expected to be raised to 35% from the current 17%.

The government is also considering introducing a 0.15% tax on trades performed by banks and other high-volume traders in the country. Bonds and mutual funds will not face the tax hikes.

Click here for the story from The Wall Street Journal.