Lunedì, 22 Aprile 2019
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Italian premier says coverage tough for property tax and VAT


Rome, July 4 - Italian Premier Enrico Letta on
Thursday announced the government's top political priority - to
staunch a creeping value-added tax (VAT) and to make cuts in the
loathed IMU property tax - will hit significant trouble due to
lack of financial coverage and budget restrictions imposed by
the European Union.
"The first goal is the most difficult," Letta told
journalists in Rome after a summit held by the parliament
majority to establish a road map for the current legislature.
Capping the VAT and slashing the IMU are "the most
complicated things (on the agenda), because they come with the
2013 budget, which is still rigid and does not enjoy the
flexibility" guaranteed by the decision announced on Wednesday
in Brussels, Letta said.
On Wednesday European Commission President Jose' Barroso
announced the EC was allowing "greater flexibility" in eurozone
countries for public investments, but belt-loosening is not
scheduled to begin until 2014, and still does not allow
exceeding a 3% budget-deficit limit.
"Coverage must be found completely within the budget, and
that is not easy," Letta said.
The government has been trying to avoid raising the VAT tax
from its current rate of 21%, but has warned in recent weeks
that covering the budget may necessitate a new hike.
The centre-right in the right-left majority has made
fulfilling its election promise to abolish the IMU and reimburse
2012 payments a condition for supporting the current government.
Letta also told journalists the new budget for this year
"could enjoy the first elements of flexibility, will be wholly
focused on the development and relaunch of the economy, on the
digital agenda, on infrastructure and on the possibility of
reducing taxes, particularly on labor".

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