Tax reform, the maxi-plan with delegated law: revision of the rates

Tax reform, the maxi-plan with delegated law: revision of the rates
Tax reform, the maxi-plan with delegated law: revision of the rates

The reform aims to overturn the structure of the personal income tax and VAT rates. At the base of the plan, fight against tax evasion and reduction of the tax burden.

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The tax reform is a declared objective. The streamlining of the tax system, with relief for taxpayers and abatement of tax evasion, represents a plan which, if successful, would constitute a truly Olympic gold goal. Italy seems willing to pursue it so much that, in the National Recovery and Resilience Plan (Pnrr) presented to Europe, it has already given indications on the enabling law that would give way to the reform. The deadline would have been that of 31 July but it will take a few more days. However, nothing that should prevent changes on the roadmap, at least as regards the objectives.

In fact, the expected changes are many and all of a certain importance. Especially with regard to the personal income tax rates, a real revolution is expected. Objective number one: increase in paychecks for middle class incomes. Certainly not a trivial matter, considering that it is the largest band in the country. Following, abolition of IRAP and payment in installments of the second deposit.

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Tax reform, the Irpef and VAT plan

Basically, a massive turn. However, it has been awaited for some time and placed at the top of the to-do list by the Draghi government. The delegation law, by itself, should allow you to start the gear just enough to start the real reform. Which, data in hand, should virtually review the entire tax system. Starting with the personal income tax rates, currently five out of five income brackets: 23% within 15 thousand euros; 27% between 15,000.01 and 28,000 euros; 38% between 28,000.01 and 55,000 euros; 41% between 55,000.01 and 75,000 euros; 43% over 75,000 euros.

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As regards payroll increases, the reform should provide for a reduction in tax rates in this sense:

– within 25,000 euros, 23%

– between 25,000.01 and 55,000 euros, 33%;

– over 55,000 euros, 43%.

A renewal is also foreseen in terms of VAT. The tax reform should modify the system which provides for one ordinary and three subsidized rates, reducing the total number from four to two, lowering the ordinary by about two percentage points. The only subsidized, would therefore be between 5% and 10%. A system that would also touch on the issue of VAT evasion.

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