The ECOFIN said Friday that "the
Italian tax system does not sustain economic growth and
efficiency in many fields. Despite the recent modest reduction,
the tax burden on productive factors remains among the highest
in the EU. There is a margin for taxation that is less damaging
for growth, in a neutral way for the budget". The EU ministers'
recommendations also said "long-awaited spending revisions have
been further postponed, in particular for reduced VAT yields".
The Italian government last year cut business tax IRAP and this
year reduced other taxes on business including IRI and IRES.
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