Rome

Coalition meeting start in Rome to look at IMU and VAT

Economy minister arrives with dossier of proposals

Coalition meeting start in Rome to look at IMU and VAT

Rome, July 18 - Coalition meetings being held in Rome on Thursday are set to look at possible solutions for the unpopular property tax called IMU and equally unpopular proposal for a rise in the country's value-added tax (VAT). Economy Minister Fabrizio Saccomanni will present a series of proposals cobbled together with economy experts, government sources said. Italian Premier Enrico Letta earlier this month announced the government's top political priority was to staunch the creeping VAT and to make cuts in the loathed IMU. The property tax was reinstated by ex-premier Mario Monti's technical government last year to address a crisis in public finances. Former premier Silvio Berlusconi promised to cancel IMU and pay back last year's take during the campaign for February's general election, which resulted in an unprecedented left-right coalition between his People of Freedom (PdL) party and Letta's Democratic Party (PD) to break a stalemate. PdL lawmakers have staked their political reputation and support for Italy's unprecedented right-left government on the two tax measures.

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