Posted in Business.

Italy wants to sell national gold reserves to avoid next year’s tax hike

The Italian government is considering selling the country’s gold holdings in an attempt to avoid an increase in value-added tax (VAT) next year, one of Italy’s oldest newspapers La Stampa reported.
The news comes amid a law proposal drafted by Italy’s ruling League party. The new amendment is set to allow the sale of the reserves if it were “authorized through a constitutional law,” according to Reuters.

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