by Economics Editorial Staff
Economy Minister Giancarlo Giorgetti explains the budget maneuver in a press conference: «Budget space for structural interventions for families, such as the tax wedge. Incentives for those who don’t retire”
«The government makes the cut in the wedge structural, which is worth around 100 euros more in the paycheck for those who earn up to 35 thousand euros gross, and the reduction from 4 to 3 of the Irpef rates, again for the benefit of medium-low incomes» . And then “sacrifices for the banks and insurance companies, which we thank, for the ministries, with the 5% reduction in the current expenditure of the state administrations”. In the end: «Abi (the association of banks, ndr.)? They are right to be cautious, the story was quite well known and also internalized by the markets. It goes as it should go, the fishermen and workers are happy after this budget lawsome others less but that’s okay.” According to Minister Giorgetti, the government pays attention to “low incomes who will have a better situation, no one has a worse situation, there will be no new taxes, I’m sorry to disappoint expectations”.
The sacrifices for the subsidiaries
«The entire universe of entities and foundations in various capacities that receive contributions from the State will also be called upon to respect the elementary rules of good finance. For example, the top management bodies of subsidiaries or others will have a ceiling that we have deemed fairlocated at the level of the allowance received by the prime minister. Let’s imagine that someone could decide to give up the public contribution and do something else, someone else will adapt.” And again: «We fight tax evasion, not with proclamations but with facts”Economy Minister Giancarlo Giorgetti explains the 2025 budget maneuver in a press conference at Palazzo Chigi. On the pensions front «iWe introduce an innovative incentive mechanism for remaining in service on a voluntary basis» with «a significant incentive on the fiscal front». Regarding the Rai license fee, the Budget law “confirms what we did last year”, i.e. the reduction from 90 to 70 euros, confirms Giorgetti.
Presented in Parliament on Monday 21 October
«The actual budget law will be presented to Parliament within the established deadlines, I think on Monday the 21st because Sunday the 20th is a public holiday“, adds the owner of the department of via XX Settembre: “There is the EU’s approval for the correction of public finances in 7 years with the commitment to reforms». Giorgetti explains by listing the priorities: «Attention to low incomes and especially for families, for large family members, let’s call it family quotientlet’s strengthen parental leave to 80% ranging from two to three months.”
Land registry income
«The cadastre matter is not contained in the Budget Law, it is already in the legal system and is one of the commitments undertaken in the structural budget plan», adds Giorgetti after the Council of Ministers which approved the measure. This is not an “update of cadastral income but simply what is already normally done it is planned for all of us, those who have benefited from the Superbonus must update the cadastral maps, for those who have never declared” the house “we will go with the tools available to see if it exists and does not exist”.
The extension of the renovation bonus
The maneuver «extends the furniture bonus to 50% for the purchase of furniture and equipment in 2025″, adds the deputy minister of Economy, Maurizio Leo, in a press conference next to the minister. While «a 50% deduction is expected for first home renovation, 36% for second.” New incentives are coming for businesses: “those who hire more pay less”. The maneuver provides for a “tax relief for the three-year period from 10 to 5% of performance bonuses”adds Leo. The increase in the non-taxability threshold for employee fringe benefits to one thousand euros is confirmed, with an increase to two thousand euros in the presence of dependent children.
Taxes for insurance and banks
«For how long concerns taxes on insurance for the third and fifth branches – therefore life policies are not affected – the mechanism for payment of the stamp duty to be paid by the insurance company is foreseen with a temporal mechanism, not at the expiry of the policy as happens now”, explains Leo the mechanism. While as regards the contribution for the banks «they have active deferred taxes in place, which give the possibility of deduction over timewe suspend the deduction for the years 2025 and 2026″. «For capital gains from bitcoin
we foresee an increase in withholding tax from 26% to 42%”, says Leo, who, for the agreement relating to VAT numbers, says, “is always led to make payments close to the deadline. We are waiting for October 31st. We see that there is enthusiasm, it is certainly a measure of interest that lays the foundations for the adjustment in the following years and will lead to a stabilization of the revenue also in the years to come”.
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October 16, 2024 (modified October 16, 2024 | 1:46 pm)
