CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Italian Coalition Continues To Pursue Tax Reforms

Italian Coalition Continues To Pursue Tax Reforms

by Ulrika Lomas,, Brussels

10 June 2011

Following a meeting to confirm the cohesion of the Italian government coalition after its recent electoral reverse, the leader of the Northern League Umberto Bossi said that it was now up to the Premier Silvio Berlusconi and the Minister of the Economy Giulio Tremonti to find a way to progress Italian tax reform.

It was confirmed after the meeting that the coalition would go forward, as planned, until 2013, that it was “solid”, and that it was still able “to give stability and carry forward its reform programme.” It was further disclosed that the government’s objective remained to bring the country’s fiscal deficit back into balance in 2014, as foreseen in the official commitments made to the European Commission.

In comments made after the meeting, Bossi said that Berlusconi and Tremonti would now have to find a compromise so that the tax burden may be reduced on individual and corporate taxpayers, while still keeping the public finances “in order”. He added that the government needs to be cautious, not only because of its promises in Europe, but also because of the possible reaction of global financial markets to any worsening of Italy’s public finances.

His comments reflect recent reiterations, by both the Governor of the Bank of Italy, Mario Draghi, and the President of Confindustria, Emma Marcegaglia, that significant cuts in the high rates of tax currently imposed on the incomes of both workers and of businesses were required, to encourage growth in the economy. Both also looked for the consequent reduction in tax revenues to be financed by further action against tax evasion.

TAGS: tax | economics | fiscal policy | corporation tax | Italy | tax reform | individual income tax

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »