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Italy beats revenue target from property tax in 2012
February 12, 2013 / 3:10 PM / 5 years ago

Italy beats revenue target from property tax in 2012

ROME, Feb 12 (Reuters) - Italy garnered 23.7 billion euros last year from its main property tax, a Treasury undersecretary said on Tuesday, beating a previous revenue estimate by 1.2 billion euros.

The 1.2-billion-euro windfall from the tax, called IMU, will boost the government’s hopes of lowering the budget deficit last year to below 3 percent of gross domestic product.

The government’s official target is a deficit-to-GDP target in 2012 of 2.6 percent, but most analysts expect that this was missed. The 2012 public finance data will be published on March 1.

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