The Italian government\'s proposal to halve a planned increase to Italy\'s value added tax (VAT) in 2013 means forgoing 3.28 billion euros in revenues, according to a technical report on the design of a new bill aimed at stabilizing Italian public finances, which is called the \'Stability Law\'. The bill calls for increasing the VAT by 1% rather than 2%. The VAT is currently 21% on most sales.