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Italy Gets Ready for Big-Time Tax Cuts Print E-mail
by Tom McGregor    Wed, Mar 12, 2014, 09:54 PM

Italy Prime Minister Matteo Renzi will soon introduce major tax cuts to boost his country's ailing economy.

According to the BBC News, "Italy's new Prime Minister Matteo Renzi has proposed a sweeping package of tax cuts, in a bid to revive the country's economy. In his first full news conference, he insisted the package would not breach European Union budget deficit limits."

Italy's government intends to focus on job growth when slashing taxes.

As reported by the BBC, "Mr Renzi said income tax would be reduced by a total of 10bn euros ($14 bn; £8bn) annually for 10m low and middle income workers from 1 May. The 39-year-old said his agenda was the most ambitious Italy had ever seen."

PM Renzi even pledged to cut State spending.

To read the entire article from the BBC News, link here:

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