Rome

Berlusconi promises massive tax refund if elected

PdL vows overhaul at national tax agency, cut penalties

Berlusconi promises massive tax refund if elected

Rome, February 4 - A housing-tax refund worth four billion euros and dramatic changes to Italy's taxation department are possible if ex-premier Silvio Berlusconi's Party of Freedom (PdL) is elected this month, a senior spokesman said Monday. "These four billion euros will generate immediate consumption," said Renato Brunetta, a former PdL cabinet minister and one of the party's economic leaders, arguing that the overall value of the refund would be worth up to eight billion euros thanks to a multiplier effect. "That's half a point added to our our gross domestic product". Brunetta proposed "corrective action" for the Italian economy after the national election February 24 and 25. That would include a refund of four billion euros in taxes charged in 2012 on an Italian's principal residence, under the unpopular IMU levy introduced by outgoing premier Mario Monti. A PdL government would also curtail the power of the national tax collection agency as well as reduce penalties and lower interest charges against tardy taxpayers, he said.

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