Government plans to change the
value-added tax on building renovations and new construction as
part of its 'Unblock Italy' program hit a snag in the Lower
House Tuesday.
The plan was to reduce the VAT, known in Italy as Iva, to
4% from the current 10%, but that must now wait for a technical
report on the full impact of the plan, some MPs said.
This means other amendments to the Unblock Italy measures,
designed to reduce red tape and bureaucratic obstacles to
infrastructure investments, are also stalled.
That includes an amendment that would see the VAT increased
for new construction of homes to 10% from 4%, in order to offset
the cost of reductions in the tax on renovations.
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