From next year, labor costs will be fully deductible from the tax base of theIRAP, which will therefore halve, remaining linked only to profits and passive interests. This is the main tax change for businesses contained in the new Stability Law.
The text of the maneuver arrives today in the Council of Ministers (initially scheduled for 15 pm, then postponed to 18 pm) and provides for a 6,5 billion euro intervention on the regional tax on productive activities. In reality, the weight of the labor component of Irap travels between eight and nine billion a year, but the reduction of the tax will also indirectly bring benefits to the State coffers, because it will imply a lower deductibility of the tax for Ires and Irpef purposes.
The expected savings are in the order of 5-9% for small businesses, while SMEs and large companies could reach peaks of 35 and 65% respectively. The cut in the tax base is added to the 10% reduction on rates that arrived in May with the personal income tax decree.
Another highly anticipated intervention is the advance in the salary slip of the severance indemnity. The maneuver will probably establish that this possibility will be granted to workers (including those who have decided to divert the severance pay into pension funds) starting from the second half of 2015, but it should be emphasized that it will still be an optional option. Public employees will certainly be excluded, but domestic workers, carers and agricultural employees are also at risk of exclusion.
Two days ago, Prime Minister Matteo Renzi had assured that the agreement with the Abi was in the pipeline. The government's objective is to use the mediation of the banks to prevent SMEs from losing the liquidity guaranteed by the severance indemnities that remain in their coffers.
The new Stability law also provides for several other measures:
– confirmation of €80 bonus in the pay slip for those earning less than 1.500 euros per month. This intervention alone weighs 10 billion euros.
– Three years without paying contributions on new permanent contracts (1,5 billion).
– The foundations will be laid for it to exist from 2015 one municipal tax for which the mayors will assume "responsibility". So goodbye to the distinction between Tasi and Imu. However, it is not clear whether the measure will also involve the Tari.
– One billion for investments in stability pact for local authorities.
- School: one billion for teachers and extraordinary maintenance interventions.
- New universal unemployment benefit, for now financed with 1,5 billion.
- The large families they will receive help of around 500 million, probably with child allowances or personal income tax deductions.
– Extension of the eco-bonus to 65% and the bonus to 55% for the building renovations (500 million). and two subsidies will have a three-year duration but should gradually decrease starting from 2016.
– Possible, but still uncertain, the restoration of the general deduction on the 2012 Imu-style house tax, or 200 euros for everyone with the addition of 50 euros per child.
– For unlocking the shots of the staff of the security sector (police and law enforcement) a billion will be allocated.
– 500 million should also arrive annually (for five years) to finance a tax credit for investments in research and development.
– For her non-deferable expenses six billion will be allocated.
As for covers, 11,5 will be recovered by raising the 2014 GDP deficit from 2,2 to 2,9%, 13,3 will be guaranteed by the spending review (five will come from the ministries, three from the Regions, 1,8 from the Municipalities and 3,5 from Provinces), three from the fight against tax evasion and 1,5 from the higher taxation of slot machines. An increase in taxes on supplementary pensions is also possible, with a leveling of the current levy of 11,5% with that applied to government bonds (12,5%).
