The current economic and financial situation suggests postponing the adoption of far-reaching measures, by tackling, conversely, some segments of the fiscal discipline that need maintenance and revision work. And then it goes into the merits of the individual chapters. Starting from this consideration Augusto Fantozzi, former Minister of Finance and Foreign Trade, speaking in front of the members of the Senate Finance Commission who heard him about the tax reform.
FIGHT AGAINST TAX EVASION
According to the former minister, it is appropriate to provide for the integration of the tax return with information and data of a patrimonial nature, in order to allow a cross-assessment and a comparability between the income flows and the stock patrimonial. Such a simple change could prove far more effective than a complete income tax overhaul.
RATES
Fantozzi expresses his support for the current system of taxation of the income of the single taxpayer, and not of the family nucleus. "In fact - he explains - in fact, beyond the costs for the tax authorities of the introduction of the criterion of the family quotient, the equitable objectives of the supporters of this hypothesis can be achieved with a wider recourse to deductions and deductions with reference to the composition of the family".
TAXATION ON FINANCIAL ACTIVITIES
Fantozzi's suggestion is to proceed with an equalization of the tax regime among all investment funds, according to the principle of the taxability of the real estate. As for capital gains, he proposes a more precise definition: "the current regime, differentiating between dividends and interest, presents an excessively fragmented panorama that allows arbitrage and non-homogeneous choices", he explains. Hence the invitation for the adoption of a clear fiscal definition which, through presumptive indices, allows former before to identify the nature of such income and therefore the tax regime applicable to it.
BUSINESS INCOME
Fantozzi expresses his appreciation for the introduction of the ACE (energy performance certificate), but underlines "the opportunity for a gradual elimination of Irap".
PROPERTIES
Fantozzi underlines "the decisive value of an update of the cadastre, as well as the priority of a revision of the cadastral estimates". Furthermore, "the existence of a tax based on the asset value of the property (IMU) and one based on the cadastral income (Iirpef)" is acceptable.
SHEET
In the perspective (“certainly not desirable”, according to Fantozzi) of further extraordinary measures in tax matters, the ex-minister suggests a levy of an asset, real estate and movable nature, also addressed to non-instrumental properties held by companies.
