Venerdì, 19 Ottobre 2018

Italy evaluating VAT measures, finance minister says


Rome, June 13 - Italian Finance Minister Fabrizio
Saccomanni said the government is evaluating ''a series of
options'' in relation to the promised suspension of announced
value added tax (VAT) increases, including the delay of these
measures for a few months until the public accounts situation
''improves'', according to comments the official made on
''The situation is showing signs that are not exactly
encouraging, and the outlook is worsening. Not only is the
growth deceleration still serious, but there are also negative
data with regards to the fiscal and VAT influx'', said
The government official said the options currently being
studied by the government include blocking the planned increase
of VAT to 22% from the current 21%, scheduled for July this
year, which would cost the state some 4 billion euros a year, as
well as delaying the measures for a few months.
The left-right government headed by Premier Enrico Letta is
on a mission to kickstart economic growth in the eurzone's
third-largest economy through a series of announced measures
including VAT and real estate tax revisions, labour cut costs
and consumption-boosting initiatives.
Italy's economy has contracted for a record seven straight
quarters and is slated to do so an additional 1.3% in 2013,
according to government forecasts.

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