Lunedì, 24 Settembre 2018

VAT hike inevitable with IMU reform, Fassina says


(see related)
Rome, August 29 - Deputy Economy Minister Stefano
Fassina said Thursday that a government deal reached to reform
the IMU property tax will force an "irreparable" hike in the
value added tax (VAT) scheduled October 1.
Ministers finalized a deal to readjust IMU on Wednesday,
agreeing to plug the multi-billion-euro revenue hole with
spending cuts and tax hikes that have yet to be elaborated in
Early last month, Economy Minister Fabrizio Saccomanni
sparked the ire of the centre-right People of Freedom (PdL)
party of ex-premier Silvio Berlusconi when he said that the
government would be "hard-pressed" to find the money to cover
repealing IMU and still afford not raising VAT by 1% in the top
rate, from 21% to 22%.
Doing both, he said, would make it difficult to stick to
Italy's commitment to the EU to keep its deficit-to-GDP ratio
under 3%.
Analysts now fear that a new debate may erupt within the
fragile left-right government, after months of threats from the
PdL to topple the government if it refused to scrap IMU,
Berlusconi's main bugbear.

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