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AUG 28, 2013 - Yahoo! News

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Italy government reaches deal to reform housing tax

ROME (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. (Reporting by Giuseppe Fonte, writing by Gavin Jones)

Tags: Italy government reaches deal to reform housing tax,  Enrico Letta Latest News