The case has already been declassified “Breadstick scent” (nickname given to the former PD secretary when he still frequented his beloved Turin) whips up like whipped cream. He may be inelegant but being a long-standing parliamentarian and politician it is inevitable that we end up having to do the math. A bottle of Chanel from free shop airport fare costs just over 100 euros. A very respectable amount for an ordinary worker who takes home 1,000, 1,400 euros net per month (statistically the majority of Italian workers and pensioners). But certainly not an unattainable amount for Fassino, who is certainly not “just any anonymous pensioner” (74 years old). Like all politicians, incomes are public.
And then we went to check the income: in 2017 Mr. Fassino declared 131,726 euros gross. And on these emoluments he paid a whopping 49,812 euros. But wait a moment: just scroll through 730 to discover that thanks to the tax deductions provided for “recovery interventions on the building heritage and anti-seismic measures), Piero managed to reduce the taxable amount by 13,649 euros. thus reducing the net tax to 36,163 euros.
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Go on. Again consulting the same declaration, Fassino is the owner of two apartments in Turin, a garage, while (presumably with his wife) he boasts the co-ownership of a Podere + Casale in Scansano (Grosseto, a stone’s throw from Capalbio), and of an apartment in Rome. After many decades of parliamentary trips it seems more than reasonable to identify a Roman “nest”. Then a couple of agricultural lands emerge (again in Piedmont: Reano and Buttigliera). In 2019 (2018 income), Fassino’s 730 travels on 110,947 euros gross. However, the Honorable Democratic Party must have paid the party 8,117 euros in contributions (which reduce income), and 13,141 euros in expenses, again for improvements to the building stock and to shore up properties from seismic risks. He probably also installed solar panels or boilers which bring deductions of 1,282 euros.
Moral: at the end of the fiscal year the deductions amount to 22,540 euros. Bringing the net tax to 18,377 euros.
In 2019 Fassino declared 109,062 euros gross. Summing up the emoluments, the gross tax for that year took off at 40,067. However, the PD parliamentarian must have contributed with liberal donations (probably to the party) amounting to 1,757 euros. He continues to spend to improve his real estate assets and invoice after invoice accumulates a deduction of 11,413 euros. He also deducts 1,282 euros of expenses for “energy saving measures”. And at the end of the year he will have 14,452 euros in tax credits.
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In 2021 the gross income rises again (149,372). And consequently the taxes in the declaration exceed 57,400 euros. However, between liberal contributions (3,701), recovery costs of the building heritage (9,685), and the installment of the tax credit for energy improvement (1,282) the total deductions and tax credits amount to 14,668 euros. That is 42,732 in taxes. In 2021 we will reach 160,418 euros of gross taxable income, with a gross tax of 62,150 euros. The party receives 4,719 euros, construction costs are 7,893 and then comes the usual 1,282 euros of deductions for improvement and energy saving costs. In total 13,894 euros of deductions and tax credits. Thus reducing the net tax to 48,256 euros.
In 2022 incomes amount to 156,338 euros gross. Gross taxes at 60,125 euros. But the PD parliamentarian pays 3,120 in liberal donations. Then he spends 10,293 on renovations, deducting only 1,282 euros for energy improvements. Thus accruing deductions and tax credits for 14,695 euros. Thus bringing the taxes to 45,430 euros. In 6 tax years Mr. Stecchino – whom his friends affectionately call “Piero the Great.. Thrifty” has legitimately saved 84,499 euros.
