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Deadline looms on bill combining tax deferrals, gold sale

M5S tries to delay plan to sell Bank of Italy reserves

29 January, 17:16
Deadline looms on bill combining tax deferrals, gold sale (ANSA) - Rome, January 29 - Heated debate continued Wednesday as the clock ticked down over a proposed bill that combined elimination of the second payment on the IMU with a massive sale of gold by the Bank of Italy to raise funds for a cash-strapped government.

Midnight Wednesday was the deadline for the combined bill, which the anti-establishment 5-Star Movement (M5S) has been filibustering because of its opposition to the sale of 100 billion euros in gold.

However, if the bill fails to pass, the second installment of a new IMU property tax on first homes will kick in, something politicians have been trying to avoid.

The bill, before the Lower House, also includes measures to restructure parts of the Bank of Italy and was still under debate Wednesday afternoon.

The Democratic Party (PD) denounced "the irresponsible attitude of the 5-Star Movement" in its filibuster.

House leaders from various parties met late in the afternoon to consider options, including separating the two topics - the property tax versus the Bank of Italy issues - to speed up the process.