Italy’s Renzi vows to cut tax burden by double-digit figure

Italy’s Renzi vows to cut tax burden by double-digit figure

PanARMENIAN.Net - Italian Prime Minister Matteo Renzi vowed to cut the tax burden by a double-digit figure by the first half of 2014 in a speech to the Senate in which he outlined an ambitious series of measures on Monday, Feb 24, according to Reuters.

The tax wedge, which is the difference between what a company pays each worker and the worker's take-home pay, was estimated to be 47.6 percent in 2012 by the OECD, the sixth-highest in the group of the 34 member countries.

Renzi said he would pay off all arrears held by public administration through a different use of the state holding company CDP, would set up a guarantee fund for small companies, and would free up billions of euros to invest in school infrastructure.

He also said he aimed to put forward a comprehensive justice reform package by June and boost welfare payments for the unemployed.

Related links:
 Top stories
The political leader of Iraq's Kurds earlier appealed for international military aid to help defeat the Islamist militants.
Ekmeleddin Ihsanoglu visited the town of Soma, which in May was the scene of Turkey's worst ever mining disaster.
The embassy staff were evacuated to neighboring Tunisia "due to the ongoing violence, the U.S. State Department said.
Another 10,000 fled Mosul after ISIS took control at the beginning of June and numbers dropped have fallen rapidly since.
Partner news
Soghomon Tehlirian assassinated Talaat Pasha on March 15, 1921

Operation Nemesis was a covert operation by the Armenian Revolutionary Federation carried out from 1920 to 1922, during which a number of former Ottoman political and military figures were assassinated for their role in the Armenian Genocide.