Italy Seeks to Revitalize Battered Economy With Tax Measures

Italy is offering tax cuts, delays, and incentives aimed at jump-starting the economy as the country slowly emerges from a two-month coronavirus lockdown.

The measures are part of a new Italian stimulus package, whose details were released Thursday. The package includes a tax credit worth 60% of the costs businesses incur to reopen in compliance with new safety guidelines; tax assistance for companies that have been hit hard by the pandemic; and measures aimed at increasing demand in key sectors. The measures are intended to help businesses that have been closed since March 11 because of the national lockdown.