Italy plans tax overhaul in two to three years' time

Italian Finance Minister Giulio Tremonti said the government will overhaul its tax system in two to three years, not sooner because of the country's debt. "I think in two or three years it will be possible," Tremonti said yesterday at a conference organised by retailers lobby Confcommercio. "We could not have done more, because of the high debt," he said.