August 28, 2013 / 5:46 PM / in 4 years

Italy government reaches deal to reform housing tax

ROME, Aug 28 (Reuters) - Italy’s government reached a deal on Wednesday to reform an unpopular housing tax, easing a source of persistent coalition tensions.

The cabinet agreed to abolish the housing tax known as IMU from the start of 2014, Prime Minister Enrico Letta told reporters, replacing it with a new levy known as the “service tax.”

The two installments of IMU which were due in September and December 2013 will be scrapped, Letta said after the cabinet meeting.

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