Rome

New service tax replacing IMU to raise same revenue, S&P say

Municipalities to get same from levy as scrapped tax

New service tax replacing IMU to raise same revenue, S&P say

Rome, August 30 - The new ''service tax'' that is set to replace the IMU property tax that the Italian government scrapped earlier this week will raise the same revenues for local municipalities in 2014, Standard & Poor's said in a report on Friday. The new service tax combined with the rubbish collection tax ''will generate the same inflow for local municipalities as the IMU tax'', the ratings agency said in a note on the recent fiscal reform introduced by the Italian cabinet.

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