Rome

PD working to prevent VAT hike, Colaninno says

Govt trying to plug revenue gap after IMU deal

PD working to prevent VAT hike, Colaninno says

(see related) Rome, August 29 - The center-left Democratic Party (PD) "will do everything it can to prevent a hike in value added tax (VAT)," the PD's economy point man Matteo Colaninno said Thursday. The economy ministry says that a government agreement reached Wednesday to reform a property tax known as IMU will leave a multi-billion-euro revenue hole, making it difficult to avert a 1% VAT rise scheduled October 1.

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