Income tax cut and payroll benefits. The first step of the tax reform speaks the language of facilitation.
What if in August there wasn’t just the heat to deal with? Contrary to what was thought, the month of the hot sun may not correspond to the restart of the fiscal machine but, on the contrary, reserve some pleasant surprises. The amendments to the Sostegni bis Decree have revised most of the support measures to the welfare of the country, in some cases by strengthening existing measures. This is the case, for example, of non-repayable grants, as well as the refinancing of the Sabatini Law to support small and medium-sized enterprises. However, the news comes for everyone.
For the taxpayers of the middle class, with income between 28 thousand and 55 thousand euros gross, there will be a reduction in taxes. The target audience is made up of at least 7 and a half million Italians subject to the third rate of personal income tax. But not only. Among the advantages that will come, there will also be an extra incentive in the paycheck, brought precisely by the cut in income tax. An attempt by the government to relieve the burden of the restart of the fiscal machine from the shoulders of the taxpayers.
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August, there is an increase in the paycheck: here is the tax reform
A strategy that the government has actually been working on for months. The finance committees of the House and Senate are trying to fine-tune the tax reform, even if at the moment it is not clear how it will take place. Certainly, the advantage of a strengthening in the paycheck will also be important for those companies that will finally do without IRAP. How to say that, although an official text is not yet ready, the tax reform begins to take shape. The revision of the personal income tax, in any case, could be compensated by the return of an asset that, in these terms, had not been seen for almost thirty years. A flat tax should also be added to this.
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In essence, the tax reduction will pass from the provision of a new fiscal structure, which will be removed on the one hand to restore on the other, with the aim of reaching a more lasting peace once the economy is put back on track. It remains, in this regard, also the scrapping of tax bills. The Commissions work in this direction and the approval of the first draft of the reform makes more optimistic about the timing. The horizon remains July 31, 2021. But keeping some reserves is at least legitimate.
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