Uncertainty clouds Italian gold tax

bank-of-italy

Confusion reigned on Wednesday over whether a gold tax which the European Central Bank (ECB) regards as unconstitutional and unfairly punitive on the Bank of Italy will be passed.

Silvio Berlusconi, Italy's prime minister, said on Tuesday that the levy could be amended. However, Il Sole 24 Ore, a newspaper, reported on Wednesday that the government planned to pas the tax in its original form.

Rome proposed a 6% capital gains tax in June as a means to reduce an expected budget deficit, which woul

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