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Italy Should Continue Indirect Tax Shift, Says IMF

by Ulrika Lomas, Tax-News.com, Brussels

27 June 2017


Italy should lower its employment taxes by increasing consumption and property taxes, the International Monetary Fund (IMF) has said.

The IMF said that Italy should takes steps to broaden its tax base and improve compliance.

"Value-added tax (VAT) policy and compliance gaps are among the highest in the euro area," the IMF said. "Reducing these gaps, together with lowering further the labor tax wedge, would support jobs and growth."

The fund also said that the country should introduce a "modern real estate tax" to improve tax collections.

In April, the Government announced a series of measures to tackle its fiscal deficit, including increasing so-called "sin taxes," on gambling and tobacco, and introducing a VAT split payment mechanism, under which VAT liable on contracts between private sector suppliers and public bodies will be immediately collected and remitted to the Treasury.

Italy is also expected to lower income taxes.

TAGS: compliance | tax | value added tax (VAT) | tax compliance | property tax | International Monetary Fund (IMF) | gambling | Italy

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