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Italy Gazettes Decree Reducing Excise Taxes, VAT on Fuels Due to War

May 5, 2022, 5:00 AM

The Italian Official Gazette May 2 published Decree-Law No. 38, announcing temporary tax relief measures to reduce the cost of fuels from May 3 until July 8 due to the ongoing Russia-Ukraine conflict. The decree-law includes measures reducing the excise tax on: 1) petrol to 478 euros (US$502) per 1,000 liters; 2) diesel to 367 euros (US$385) per 1,000 liters; 3) liquified petroleum gas to 183 euros (US$193) per 1,000 kilograms; 4) natural gas used for transport to zero euros per meter cubed; and 5) reducing the VAT rate on natural gas used for transport to 5 percent. The decree ...