The Italian Government has issued a three-year Economic and Financial Document, which includes a pledge to pass income tax cuts. The cuts are for both individuals and businesses.
Individual tax cuts are for low income earners, those earning less than EUR 25,000 a year. The cuts include EUR 7 billion this year and EUR 10 billion in the following years.
The government will also reduce business taxation. The initial cuts will come in the form of a reduction in the regional tax on production (IRAP).…