The tax burden in the first quarter of 2020 was 37.1 percent, up 0.5 percentage points from the same period of the previous year. This is what the National Institute of Statistics (Istat) found, in a recent press release published on its website: “Quarterly general government account, household income and savings and corporate profits”.
The press release also highlights the trend of income, savings and the purchasing power of Italian families in the first quarter of 2020, in full lockdown period due to the health emergency of the coronavirus. Let’s see what it is.
The new ISTAT surveys on the wealth of Italians
Not only is the tax burden rising, Istat’s surveys, in the first quarter of this year, also highlight other relevant data:
- Disposable income of consumer households decreased by 1.6% compared to the previous quarter;
- final consumption expenditure decreased by 6.4%;
- the propensity to save of consumer households is estimated at 12.5%, an increase of 4.6 percentage points compared to the fourth quarter of 2019.
Finally, for Istat, the purchasing power of households decreased by 1.7 percent compared to the previous quarter, against a substantial price stability (+ 0.2% the change in the implicit deflator of household consumption compared to the previous quarter).
For more information, you can consult the original press release on the Istat website: “Quarterly general government account, household income and savings and company profits”.
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