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AngloINFO World: Property

Italy: No VAT Increase or IMU on Primary Homes

July 22, 2013

Italy may scrap the IMU property tax on primary homes and will not increase value added tax, according to reports on the Italian news service ANSA.

The Minister of Economic Development, Flavio Zanonato, told reporters “I think that at the start of autumn it will be possible to announce that there will not be a point increase in VAT, and there will not be IMU on primary houses”.

Reuters reports that the Italian Prime Minster Enrico Letta is, “juggling demands to axe property tax from the centre-left members of his coalition with pressure from European Union budget limits”.

According to Reuters, a cancellation of IMU would cost the government 4 billion euros, a loss that would have to be covered by a cut in public spending.

by AngloINFO World editor. Find out more about AngloINFO World editor here.

Categories: Italy, Tax, VAT



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