The League dusts off the proposal for a BTP reserved only for residents of Italy which, according to plans, will give access to maxi tax rebates and a long list of advantages. The goal is to attract savings parked by Italians in bank current accounts. The money raised could act as a bulwark for financial speculation and at the same time replenish the state coffers.
What is it about? According to initial indications, the new BTP under study will offer the possibility of deducting 30% of the amount invested from income tax.
According to initial indications, the initiative bearing the signature of Northern League deputy Giulio Centemero provides for a ceiling of 30,000 euros for the subsidy. Centemero had already presented the proposal in the last legislature. The security must be kept in the portfolio until maturity. The hypothesis is for durations of five and ten years.
The new instrument can only be subscribed by natural persons residing in Italy and the product cannot be sold short. In this way, the new BTP reserved for Italians would act as a barrier to any speculative wave on our country’s debt.
The tax break is not the only incentive thought up by the League. The mechanism also provides for a double coupon for investors who will keep the BTP until maturity. The amount will be determined exclusively in relation to the positive trend of the Italian GDP.
What would happen if I sell before the deadline? In this case, unpaid taxes must be paid within sixty days, without having to pay penalties. In addition to the tax deduction, the League also provides for a further incentive, namely that the sale of special BTPs is excluded from the tax on donations. The instrument, which can be subscribed without commissions, will finally be unattachable and 50% of the invested amount can be used to access bank loans, used as collateral.