Another sting coming for the Italians. This time the main targets are rentals, company cars and airline tickets. The government's objective is to create new revenue that will allow for the completion of the financial coverage of the labor reform. The text of the provision indicates in 20,3 billion euro coststhe additional costs to be incurred between 2013 and 2021. Of these, almost 9 billion euros will come from the squeeze on the deductions for company car expenses and for freelancers. Another three billion will be raised by the expansion of the tax base on which the rental tax is calculated. Furthermore, from July next year, the boarding tax on airplanes will increase by two euros for each passenger.
But that's not all. Other measures they were introduced to raise cash. Here they are: new deductible of 40 euros for the deductibility of contributions to the national health service on motor liability (therefore only the part exceeding 40 euros will be deductible), which will guarantee 172 million in 2013 and 101 million a year until 2021; cut of over 100 million euros a year in the operating expenses of INPS (72 million), Inail (18 million) and State Monopolies (10 million); reduction of the financial allocations of the Ministry of Economy's "Accounting adjustments, refunds and tax refunds" spending programme, for a total value of five billion.
Now let's see in detail what are the news relating to the main measures:
RENTALS
For homeowners who do not apply the flat rate 20% coupon on rents, the reduction in the Irpef calculation base on rents will drop from 15% to 5%. This means that the tax base on which the tax will be paid will increase by 10%. In 2014 this item will guarantee the State coffers 627 million euros, to then settle at around 365 million a year until 2021.
COMPANY CARS
From 2013, deductions will be reduced on expenses relating to means of transport "not used exclusively as capital goods" by businesses and professionals. Deductible expenses will drop from 40 to 27,5% while the deductibility of expenses relating to vehicles granted by companies to their employees will drop from 90 to 70%. This item will generate 801 million in 2013 and 1,02 billion a year once fully operational.
AIRLINE TICKETS
From July 2013, each passenger will pay two euros more for the boarding tax on flights. The estimated revenue for this measure is 129 million euros per year.
