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Monti sees tax cuts coming in 2013 without need to raise VAT

Premier says reducing fiscal pressure 'possible and necessary'

05 February, 20:23
Monti sees tax cuts coming in 2013 without need to raise VAT (ANSA) - Padua, February 5 - Outgoing Italian Premier Mario Monti on Tuesday said that personal and corporate taxes would have to gradually decrease in the coming year.

On the sidelines of a campaign event in Padua, Monti said: "It is possible and necessary to have a gradual reduction in Irpef (personal income taxes) and Irap (a regional corporate tax) already in 2013 and it's not necessary to have increases in value-added taxes".

Monti, who was brought in as head of a technocratic government at the end of 2011 to help restructure Italy's massive national debt amid worries the country was heading the way of Greece, has been battered by political leaders of the right and left for his tax policies, which critics say have strangled Italy's economy.

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