Meloni Starts Overhaul of Italy’s Byzantine Tax System

Prime Minister Giorgia Meloni started a sweeping overhaul of the country’s byzantine tax system, which will include a reduction in the number of income tax brackets.

The changes aim to “simplify and reduce the tax burden, and favor investment and hiring,” the finance ministry said in a statement on Thursday.

The tax reform, the first of its kind in about 50 years, was among Meloni’s campaign promises to voters. The draft outline approved by Italy’s cabinet still needs a green light from parliament and then implementation by the finance ministry.

The changes, which may take at least two years to ...