Italy attempts to avoid VAT hike

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The Italian government are trying to avoid increasing the countries standard VAT rate from 22% to 24.2%, this increase is scheduled for January 2020.

Due to Italy having the second highest level of debt in the European Union, they previously agreed with the European Commission (EC) to increase their VAT rates if certain budgetary targets were not met.

It now seems that even though these targets will not be achieved, the current Italian government are adamant that the VAT rate in the country will not increase as agreed.

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