Italy lowers and simplifies taxes

by time news

2023-08-06 20:51:30

For Prime Minister Giorgia Meloni, it is the tax reform “that Italy has been waiting for for fifty years”. It would bring relief for families and companies, more justice and a simplification of the complicated Italian tax system. Last Friday evening, the Italian parliament gave its blessing to a tax law that leaves a number of details open but indicates the government’s tax policy direction: exemption from state burdens that it sees as avoidable, and a less tense relationship between taxpayers and consumers tax offices. Meloni “does not want to disturb those who make or produce in Italy,” she had said several times before. Tax incentives are provided for companies to hire staff. The government even has a “flat tax” in mind as a long-term goal, which has the same basic and top tax rate, but whether it will actually come about is an open question.

What is certain is that the number of tax rates will drop from four to three in the coming year. The Draghi government had already reduced them from five to four, which relieved the burden on middle-income groups in particular. “The famous four tax rates make life difficult for taxpayers. We want to flatten the curve,” announced Deputy Economy Minister Maurizio Leo at the final debate in Parliament.

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