Italy’s Renzi faces uphill struggle over Google Tax plan


By Giuseppe Fonte and Gavin Jones ROME (Reuters) – Under pressure to find resources for his promises of sweeping tax cuts, Italian Prime Minister Matteo Renzi is hoping to raise billions of euros by forcing multinational Internet firms to pay taxes on profits generated in Italy. Treasury Undersecretary Enrico Zanetti said a so-called "Google Tax" could yield up to 3 billion euros ($3.36 billion) per year for Italy's strained public finances. Now, faced with fierce political resistance to his plans to cut health and other areas of spending in the 2016 budget to be presented by mid-October, Renzi has revived the idea of a far more voter-friendly Google Tax.

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