Rome

Cabinet meeting scheduled at 17:00 to finalize IMU deal

Govt mulling ways to cover billions in lost revenue

Cabinet meeting scheduled at 17:00 to finalize IMU deal

(see related) Rome, August 28 - Government ministers are meeting at 17:00 local time to finalize a deal over the future of a controversial property tax known as IMU, the office of Premier Enrico Letta said Wednesday. Lawmakers said after late meetings Tuesday that the fractious left-right coalition had agreed to roll back the tax and now must come up with new sources of revenue to make up for the resulting 2.426-billion-euro shortfall in 2013 alone.

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