Rome

Italian tax collector reports 4% rise in 10-month revenues

First instalment of controversial IMU important to tax rise

Italian tax collector reports 4% rise in 10-month revenues

Rome, December 5 - The Italian government's coffers grew by 4% in the first 10 months of 2012 as tax revenues totalled 322.8 billion euros, the economy ministry announced Wednesday. The increase, when compared with the same period last year, was partly attributed to the controversial new IMU property tax, ministry officials said in a statement. The rise in tax revenues would have been even greater, at 4.4%, but for special, one-time real-estate income booked in April 2011. The 4% increase amounts to about 12.3 billion euros.

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