What is the updated situation now in July on the important changes to taxes and deductions of the upcoming tax reform? Green light for tax relief overtime, thirteenths and productivity bonuses but also the installment of the tax advance, gradual overcoming of the IRAP, stop to the online sale of e-cigarettes and reorganization of car taxes.
Discussions continue on the tax reform which, according to the latest news, has received the green light in the House. Now the bill passes to the Senate and the government’s goal is to conclude the examination of the provision before the summer recess of the Chambers.
Green light to detax overtime and thirteenth salary for lower incomes Green light to install the November tax advance What are the new features for young people What changes for smart working in the tax reform New reorganization of taxes, deductions and tax controls in forthcoming tax reform E-cig ban on distance selling in new tax reform
Green light to detax overtime and thirteenth for lower incomes
The first novelty that advances in the new tax reform is the detaxation of overtime and thirteenth payments starting for the lowest incomes, but gradually and not only for them. But not only that: as regards i productivity bonuses, a reduction of IRES is envisaged for companies where there is employee profit sharing.
Go-ahead to install the November tax advance and new tax payment calendars
Another novelty of the bill is the new possibility of install the November tax advance and to reduce the withholding tax for the self-employed. A strong simplification, in general, for the fiscal calendar, therefore, which we have seen more precisely in the previous articles
What are the new features planned for young people
In the new tax reform there will also be interventions for young people: according to the latest news, in fact, Parliament has asked to protect the facilities available for young people under 30 to facilitate their entry into the world of work.
Furthermore, precisely by virtue of this objective, new incentives have been envisaged for companies in the form of super-depreciation for new hires.
What changes for smart working in the tax reform
While we wait to understand how the government intends to move towards smart working after the imminent end of the possibility of smart working for fragile workers and parents with children under the age of 14, the first changes in this regard could already be foreseen in the new tax reform.
In particular, the revision of the discipline of tax residence of natural persons could certainly affect the modality of work performance in smartworking.
New reorganization of taxes, deductions, checks and amnesties in the forthcoming tax reform
As already announced some time ago by the government, the new tax reform will be the occasion for the reorganization of some taxes and levies. In fact, the Chamber has given the go-ahead for the gradual abolition of Irap without increases for businesses; a progressive overcoming of the super stamp is also envisaged.
Obviously there is no shortage of the reformulation of the personal income tax rates with 4 new brackets, the changes to the deductions and a reorganization of bonuses and concessions also and above all for the home
The tax settlement is also very important, which will allow VAT numbers, professionals and small-medium enterprises to pay taxes that are always fixed for 2 years (even with higher than expected profits) and no tax controls, after having entered into an agreement with the Tax Agency Come in
Reorganization and changes also for tax controls and measures against tax evasion, including new possible and important amnesties
Green light also to the National Taxpayer Guarantor, to the involvement of the Guardia di Finanza in the operations of control for the fight against illegal gambling and green light also for the introduction of the global minimum tax, a tax on multinationals, which will also be applied to the giants of the web, and which should have a minimum rate of 15% on the profits of multinationals to prevent them from continuing to transfer their tax headquarters in countries where decidedly more advantageous tax treatments apply.
E-cig ban on distance selling in new tax reform
The tax reform also includes innovations for e-cigs and nicotine pouches with the aim of countering the illegal market and ensuring the protection of consumer health.
It was, in fact, established the prohibition of distance selling, with the possibility of purchasing the product online, even from EU countries, but only with delivery to a tobacconist or an e-cig shop to be specifically indicated at the time of online purchase.