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It still remains uncertain as to how Italy's additional 2017 fiscal adjustment required by the European Commission will be funded, but a major part could involve cuts to individual income tax deductions. Read Full Story
Ex-premier Matteo Renzi's Democratic Party has refused to support hikes to excise taxes that are being proposed as a major element in Italy's additional 2017 fiscal adjustment, required by the European Commission. Read Full Story
The OECD has said Italy should limit its fiscal plans to those measures that would not inhibit improved economic growth. Read Full Story
The Italian Government's measures against tax evasion yielded additional tax revenue of around EUR19bn in 2016, 28 percent more than in 2015. Read Full Story
The Italian Minister of the Economy and Finance, Pier Carlo Padoan, sent a letter to the European Commission on February 1, confirming that Italy will introduce additional budgetary measures to reduce its forecasted fiscal deficit for this year. Read Full Story
The OECD is seeking taxpayers' input on the mutual agreement procedure frameworks in place in the second batch of countries that will now be peer reviewed under Action 14 of the OECD's base erosion and profit shifting Action Plan. Read Full Story
The European Commission has hailed victory in a World Trade Organisation case concerning Russian anti-dumping duties on certain light commercial vehicles from Germany and Italy. Read Full Story
On January 17, the Italian Minister of the Economy and Finance, Pier Carlo Padoan, received a letter from the European Commission's Vice-President, Valdis Dombrovskis, and Tax Commissioner Pierre Moscovici, in which they said that Italy will need to introduce additional budgetary measures for 2017. Read Full Story
A new report has recommended a rethink on how the European Union is funded, proposing the use of either revenues from carbon tax, a common corporate income tax, or from value-added tax, as currently, but under reformed arrangements. Read Full Story
According to an opinion of Advocate General Campos Sánchez-Bordona delivered on January 12 to the Court of Justice of the European Union, Italy should not be precluded from taking both criminal and administrative action following a taxpayer's failure to pay value-added tax. Read Full Story
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