ROMA – Eighteen months to change the tax system: after the political agreement, still to be secured, and the approval of the delegation in Parliament, it is the time that the government will have to redesign the taxation on households and businesses. Whether the agreement will hold up will be understood in the week, when the voting in the committee in the House will resume. Then we need the go-ahead from the Senate. Only after the details of the reform will be defined with the delegated decrees but with a principle: from the implementation it cannot result in an increase in the tax burden.
Irpef towards three rates, first reductions for low incomes
After the reduction of the brackets Irpef from five to four in the last maneuver, the delegation could lead to a new intervention to reach three rates. The mandate for the government is to gradually reduce, starting from low-medium incomes, the effective and marginal average rates, also to encourage the entry into the world of work of young people and of the second income earner, who in Italian families is generally a woman. The flat tax at 15% for VAT numbers is confirmed, with a two-year slide for those who leave the flat-rate scheme: the threshold and rate will be defined by the implementing decrees, one hypothesis is to charge 20% up to 80 thousand euros. The reform also provides for the reorganization of deductions and deductions. And the creation of a fiscal cashback, that is the possibility of obtaining reimbursement of expenses such as health care in a short time, without waiting for the tax return: the sums will be uploaded on platforms such as the app-Io.
Tax, has the weight of the withdrawal really increased? Good news, it’s an optical effect
edited by the Italian Public Accounts Observatory
07 Maggio 2022
From BTPs to rents, different but more harmonious taxes
The new tax system will be dual, with a clear distinction between personal income taxes, which will have to be progressive, and taxes on capital, movable and real estate income, which will instead be proportional. Originally the reform provided for the arrival at a single rate (two rates in the transitional phase), for taxes on capital which today range from 10% of the coupon on rentals to 26% of the capital gains on investments. The center-right, after a long battle to protect the coupon and the 12.5% tax on BTPs, obtains that the proxy is a generic one “Harmonization” of the rates. The government will therefore be able to rearrange them, to give coherence to the system, but there will no longer be a drastic reduction. The hope of those who support the need for a reorganization lies in the provision of a principle of “fiscal neutrality”, that is the commitment not to direct savings with such different taxes on different types of investments, rebalancing a situation that today is very incentive to purchase of government bonds.
Property values to be updated, the hunt for ghost buildings begins
As of January 1, 2026, a new mapping of all buildings and land in Italy will have to be available. To achieve it, the government will give municipalities and the Revenue Agency new tools to facilitate the survey. We aim for a maxi transparency operation to bring out all the ghost properties, abusive or badly stacked. The owners of these houses will have to start paying taxes and this will result in higher revenues for the State which will reduce the IMU. For all other citizens, the delegation specifies that taxes will not change. But in the new mapping to the cadastral income (the only valid for tax purposes), there will be one “additional” income. The “additional” income, which in a future hypothetical reform could be used as a tax base, will be calculated “according to the criteria of Presidential Decree 138/1998”, which already today allows municipalities to define the estimates on the basis of various criteria including “market value”. A parameter that the center-right asked to delete from the text of the delegation but returns as an indirect reference.
Cadastre, center-right rejoices, for the Democratic Party it is bluff, M5S against the method. And the “market values” reappear
by Serenella Mattera
06 Maggio 2022
Companies, IRAP disappears: the state will cover the lost revenue
L’Irap, regional tax on productive activities, will be phased out gradually. It has already been canceled by the last maneuver for individuals with a VAT number, now the implementing decrees will indicate the next steps: it will disappear first for partnerships, associated firms and companies between professionals, then for joint-stock companies. But IRAP is crucial for the Regions, for example it covers healthcare costs, so the loss of revenue – the delegation specifies – will have to be covered by the State. Corporate income taxes will also have to be rearranged according to a criterion of “neutrality”. VAT and excise duties will be streamlined and simplified. The value added tax will be reorganized with the aim of combating erosion and evasion, but among the reorganization criteria, both for VAT and for excise duties, there is also the European Green Deal, which means that in the reshaping the rates will take into account the environmental impact of the various products, rewarding the less polluting ones.