Tags: EU | Italy | Budget

Italy's Government to Avoid Widely Criticized Sales Tax Rise

Wednesday, 16 October 2019 09:38 AM

MILAN (AP) — Italy's new government has reached agreement on a set of budget measures to avoid a sales tax increase that critics warned would hurt the economy by weighing on spending.

The measures agreed by Premier Giuseppe Conte's cabinet early Wednesday include revenue-raising measures to fight persistent tax evasion, including incentives to those who make electronic payments, and a tax on plastic to help the environment.

The government is also planning to cut payroll taxes by 3 billion euros ($3.3 billion) and to stimulate private investment.

A much-disputed roll-back by the previous government on a pension reform was left untouched.

The European Union has to decide if the package of measures is credible. The Italian parliament needs to approve it by the end of the month.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
Italy's new government has reached agreement on a set of budget measures to avoid a sales tax increase that critics warned would hurt the economy by weighing on spending.The measures agreed by Premier Giuseppe Conte's cabinet early Wednesday include revenue-raising measures...
EU,Italy,Budget
126
2019-38-16
Wednesday, 16 October 2019 09:38 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved