Italy's Cabinet Approves 2016 Budget Measures

On 15 October 2015, the Italian Cabinet approved the budget measures for 2016. Some of the key measures include:

• Reducing the corporate tax rate from 27.5% to 24% in 2017, with the possibility of an initial reduction in 2016;
• Introducing an accelerated depreciation deduction of 140% for plant and machinery purchased between October 2015 and the end of 2016;
• Maintaining the 22% standard VAT rate instead of increasing to 24% in 2016 as previously planned;
• Reducing the social security charges …