news also for freelancers and self-employed

At the meeting of 30 April the Council of Ministers approved, in preliminary examination, a text of a legislative decree which, implementing the enabling law on tax reform (Law no. 111/2023), carries out the global revision of the tax regime for the income of individuals (IRPEF) and companies and entities (IRES). The all-inclusive regime for the self-employed has been introduced.

Among the tax innovations introduced by the approved text, we highlight:

• as regards land income, the regulations relating to the determination of agricultural income are revised, also including activities not centered on the direct exploitation of agricultural land, such as “soilless crops” (e.g. hydroponic activities), also carried out in properties, falling within specific cadastral categories and within certain limits (the excess part of the income will contribute to the formation of the business income), and activities aimed at production of goods, including intangible ones through cultivation, breeding, forestry which contribute to environmental protection, within the limits of the fees for sales of goods registered or subject to registration for VAT purposes. As a result, property income is defined as property related to properties used for soilless crops, which therefore do not produce income from buildings if they are not rented;

• for income from employment, the components excluded from the formation of income from employment are expanded, and the contributions and premiums paid by the employer for dependent family members of employees for benefits, including in insurance form, having as their object the risk of non-self-sufficiency in carrying out daily life activities, or having as their object the risk of serious pathologies. Pending the introduction of a replacement tax regime for the thirteenth month’s salary, the disbursement, in January 2025, of an allowance of 100 euros to employees for which, in the year 2024, certain conditions are jointly met: total income not more than 28,000 euros; non-separated spouse and at least one child, both dependent, or at least one dependent child, where the other parent is missing or has not recognized the child and the taxpayer is not married or, if married, has subsequently separated, or if there are adopted, fostered or affiliated children of the taxpayer alone and he is not married or, if married, has subsequently separated; gross tax determined on income from employment (with the exclusion of pensions and allowances equivalent to them), received by the worker, of an amount higher than that of the deductions due;

• as regards income from self-employment, the principle of all-inclusiveness is introduced as a general criterion of determination, therefore the income deriving from the exercise of arts and professions will be made up of the difference between the sums and values ​​in general, for any reason received in the period of tax in relation to artistic or professional activity and the amount of expenses incurred in the same period in carrying out the activity. In addition to welfare and social security contributions, the exclusion from the formation of income is also provided for the sums received as reimbursement of expenses incurred for the execution of a task and charged to the client and the recharging to other subjects of the expenses incurred for the the common use of the properties used, even promiscuously, for the exercise of these activities and for the services connected to them;

• for business income, a first phase of implementation of the delegation regarding the rationalization and simplification of the tax regimes is carried out realignment of fiscal values ​​to accounting values and modification of the criteria for determining business income. On the determination of the tax base of resident companies and commercial entities, to bring accounting values ​​and tax values ​​closer together, the tax treatment of contingent assets deriving from income in cash or in kind obtained by way of contribution or donation is modified, which can contribute to forming the income exclusively in the financial year in which they are collected; the evaluation of final inventories of works, supplies and services; exchange rate differences.