The tax reform is underway: VAT, IRPEF, IRAP and CATASTO at the center of attention.

In early October, the Council of Ministers dealt with the enabling law for the tax reform which provides for the revision of some taxes. There will be interventions on VAT, IRPEF, IRAP and, moreover, the land registry will also be reorganized.

VAT  

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The Ministry of Economy and Finance has been working on simplifying the rates for some time. The VAT will be divided into four rates and a reduction of the ordinary one currently at 22% will be envisaged. The objective is that of a reorganization on the distribution of goods and services in the different rates with the aim of recovering the resources necessary to reduce the higher rate.

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IRPEF

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The Government, taking up the requests of the Parliament, foresees a cut of the IRPEF in particular for the 38% rate. This applies to the annual gross income of between 28 thousand and 55 thousand euros. We therefore speak of the so-called "middle class". The hypothesis taken into consideration is that of a dual model in which the level of the rates on income from capital is close to the rate applied to the first income tax bracket.

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IRAP

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It is the most controversial tax especially as regards the system for calculating the tax base. As is known, the cost of labor is only partially deductible and therefore IRAP affects the companies that have a higher percentage of labor. In this period of fear for employment levels, this seems to be a contradiction that needs to be corrected. The goal is to cut IRAP in particular for SMEs and the self-employed.

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LAND REGISTRY

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The reform envisaged by the government has two substantial objectives:

  - the abandonment of the current system of rents and multipliers to introduce more realistic parameters (currently it is not      it is rare that modest peripheral buildings of more recent construction have higher yields than construction properties       more dating places in prestigious historical centers);

  - the control of evasion with a series of checks on ghost properties that escape the current Cadastre.