Italy Sees Tax Cuts for Hard Hit Sectors, Min. Tells Repubblica

Italy is planning value-added tax reductions in areas hit hardest by the coronavirus pandemic, Deputy Finance Minister Laura Castelli said in an interview with la Repubblica, specifying areas including restaurants and tourism, clothing and cars.

• Measures could be effective as soon as Jan. 1, possibly valid for two years
• Lower taxes would have a positive impact on GDP, says Castelli, a member of the Five Star Movement party
• Separately, daily La Stampa reports that Finance Minister Roberto Gualtieri, of the Democratic Party, favors proceeding more cautiously on tax cuts, based on end-month figures and decisions over whether further emergency ...