Government approves abolition of second round of IMU tax
(ANSA) – Rome, November 27 – The government gave final approval Wednesday to scrap the second installment of the unpopular IMU property tax, at a cost of 2.15 billion euros in lost revenues, said Economy Minister Fabrizio Saccomanni.
The tax on main residences and farm buildings has been replaced by a group of other taxes payable by renters as well as home owners.
Earlier this month, the Italian government announced it would repeal the second installment of the IMU tax.
At the same time, Saccomanni announced proposed reforms to the ownership structure of the Bank of Italy, involving the sale of a 5% share in the central bank.
He said the proposal must still be approved by the Bank of Italy’s Board of Governors.