25/05/2007 (Agence Europe) - The European Commission has adopted a draft decision authorising Italy to restrict the Value Added Tax (VAT) deductions on spending on vehicles not exclusively used for professional purposes to 40%. Exemptions to the limitation on the right of deduction will be allowed, for example, when vehicles are used as taxis, driving school cars, hire or lease cars and by sales representatives. This proposal is made under the terms of directive 2006/112/EC on the common VAT...