Berlusconi vows to cut property tax IMU and cap VAT

Reiterates PdL priorities

Berlusconi vows to cut property tax IMU and cap VAT

Rome, July 11 - Centre-right leader Silvio Berlusconi reiterated on Thursday his party's determination to slash or abolish a controversial property tax, IMU, and to halt any further rise in Italy's 21% value added tax (VAT). "We will complete the measures on IMU and VAT," the three-time ex-premier said from the headquarters of his People of Freedom Party (PdL) in Rome, underlining his party's priorities. Berlusconi promised to cancel IMU and pay back last year's take during the campaign for February's general election. The property tax had been reinstated by a technical government last year to address a crisis in public finances. PdL lawmakers have staked their political reputation and support for Italy's unprecedented right-left coalition government on the two tax measures.

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