We aim to automatically induce a PoS tagset for Italian by analysing the distributional behaviour of Italian words. To this end, we propose an algorithm that (a) extracts information from loosely labelled dependency structures that encode only basic and broadly accepted syntactic relations, namely Head/Dependent and the distinction of dependents into Argument vs. Adjunct, and (b) derives a possible set of word classes. The paper reports on some preliminary experiments carried out using the induced tagset in conjunction with state-of-the-art PoS taggers. The method proposed to design a proper tagset exploits little, if any, language-specific knowledge: hence it is in principle applicable to any language.