Italian 11-month tax revenue up 3.8%

First whack of IMU brought in 10 of 378 bln euros

Italian 11-month tax revenue up 3.8%

Rome, January 7 - Tax revenue in Italy was up 3.8% to 378.189 billion euros in the first 11 months of 2012 compared to the same period in 2011, the economy ministry said Monday. The government's tax hikes counteracted the recession with the first instalment of a reintroduced and highly unpopular property tax called IMU - set to be changed by any future government - weighing in for almost 10 billion euros. Revenue from stamp duty rose 106.7% while proceeds from State-run gambling like lotteries fell 6.3%. Recouped money from tax dodgers totalled 6.433 trillion euros, up 9.3% on the previous 11-month period. A one-off 'solidarity' levy on those earning 300,000 euros or more a year brought in 259 million euros.

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