The Legislative Decree correcting the tax reform is preparing to have the green light from the Government. Let’s find out what’s new in the first reading.
2024 is the year of tax reform. Many Legislative Decrees approved and others in the approval process to change the Italian tax landscape. Decisions such as the implementation of the IRPEF Reform and measures relating to income taxes had already been taken at the end of 2023.
Law 111/2023 composed of 23 articles must be exercised by the Government within 24 months starting from the entry into force of the Law on 14 August 2023. After the approval of the delegation, Giorgia Meloni declared that she was very satisfied with this structural reform and organization that collects measures to achieve Italy’s development and growth objective that has been awaited for 50 years. A fairer tax system, less taxes for citizens, higher salaries, simpler and faster procedures.
A true revolution between the tax authorities, citizens and businesses implemented with various implementing decrees. Among the best-known interventions are the transition to three IRPEF rates, preferential taxation on overtime, thirteenth salary and productivity bonuses, ordinary measure of the 24% rate for IRES with reduction of the rate on the part of income used in investments. The reform also provided for the installment of IRPEF advances and balances as well as the revision of the VAT regulations.
New features of the corrective legislative decree on the tax reform
Approved today 20 June, the corrective legislative decree on the tax reform establishes – at first reading – the possibility of access to the pre-compiled form 730 by professional associations and STPs that have been excluded up to now. It defines the reformed 2024 tax calendar and the deadlines for the software dedicated to the flat rates for the two-year composition with creditors which is being talked about a lot these days (and which is receiving a lot of criticism). The measure aims to encourage the spontaneous fulfillment of declaration obligations.
A reference also to the tax returns to be sent by October 31st and the domestic volunteer with tax risk certification for entities in collaborative compliance. The new rules of advance payments reformulated following the adhesion to the biennial composition with creditors are also found in the DL. Once the measure is approved by the Government it will be examined and approved by the parliamentary commissions within 30 days.
During this period of time, evaluations and indications on how to do so will be included perfect the income meter which, we remember, should have been reactivated in May but immediately stopped by the Premier after understanding how the system must be improved to prevent citizens from having a Big Brother spying on their every move.
Freelance journalist, web content writer, writer and family mediator. She graduated in sociology-analysis of social policies. I deal with writing articles touching on various topics including economics, health, technology, current affairs. In this way I can cultivate my passion for writing and try to make information accessible to a greater number of people.
