Rome

Italy's tax burden reached record high of 52% in 4th quarter

Average for whole of 2012 44%, up 1.4% on 2011

Italy's tax burden reached record high of 52% in 4th quarter

Rome, April 5 - Italy's tax burden hit a record high of 52% in the fourth quarter of 2012, up 1.5% on the same period in 2011, Istat said on Friday. The national statistics agency added that the average burden for the whole of 2012 also reached a record of 44%, up 1.4% on 2011. The burden has risen after tax hikes contained in austerity measures by outgoing Premier Mario Monti's emergency government to steer Italy out of the centre of the eurozone crisis. The tax burden is usually higher in the fourth quarter because this is when many end-of-year payments are due.

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