Italy: Background Economic Developments and Issues - Supplementary Information Appendices
May 10, 1995
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This paper reviews the flaws of the Italian tax system during the 1990s and the rationale for reform. The paper highlights that a fundamental reform of the tax system took place in 1971–73, and introduced three main innovations: the concentration of tax authority almost exclusively at the level of the central government; a value-added tax, in line with the rest of the European Union; and the extension of the base of the personal income tax to additional income categories. This paper also reviews the management of public spending in Italy.
Subject: Budget planning and preparation, Expenditure, Financial markets, Labor, Pension spending, Pensions, Public financial management (PFM), Retirement, Stock markets
Keywords: annual budget, Australia and New Zealand, budget, Budget planning and preparation, CR, Europe, expenditure, Global, government, ISCR, IVS pension, pension spending, Pension spending, pension system, Pensions, personal income, privatization program, Retirement, Stock markets, tax authority, tax revenue, telecommunications company STET
Pages:
117
Volume:
1995
DOI:
Issue:
037
Series:
Country Report No. 1995/037
Stock No:
1ITAEA0021995
ISBN:
9781451819779
ISSN:
1934-7685
Notes
This supplementary report on recent economic developments in Italy was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
