After a longer than expected wait, last week the text of the new budget law was stamped by the State General Accounting Office and sent to the Quirinale, which authorized its transmission to Parliament. Compared to the first drafts circulated, the maneuver is more streamlined (104 articles from the initial 122). However, the main chapters are confirmed: from the pension advance (Ape) to the various bonuses, from earthquake interventions to measures for businesses. There are also some new features, such as the Superenalotto competition and the receipt lottery. The total value is approximately 26,5 billion euros.
Here is a summary of the main measures.
PENSIONS
– Pension advance
From 2017 May 31 (and on an experimental basis until 2018 December 1951), the Ape will allow those born between 1953 and 20 with at least XNUMX years of contributions to retire from work between a minimum of six months and a maximum of three years and seven months in relation to the requirements for the old-age pension. The pension advance does not contribute to forming income for tax purposes.
The mechanism is divided into three different types. The voluntary one provides for an insured bank loan (but disbursed by INPS) which must be repaid in the first twenty years of effective retirement. It can be requested with a pension of at least 700 euros. Reimbursement will take place in 13 annual installments through a cut in the social security check of up to 5% for each year in advance (on average it will fluctuate between 4,6 and 4,7%).
The second type is the Ape social, entirely financed by the state, which has a potential audience of 34 people. It can only be requested by certain categories:
1) unemployed people who have exhausted the other shock absorbers for at least 3 months;
2) who assists spouses or first-degree relatives with disabilities;
3) who has a disability of at least 74%;
4) workers employed in one of the 11 activities considered particularly onerous (kindergarten teachers, construction workers, nurses and midwives, tanners, crane drivers, railway workers, truck drivers, care workers for the dependent, cleaners, waste collectors and porters ).
The last type is the corporate Ape, under which the early retirement of workers involved in company restructuring will be financed by the employer.
- Exhausting work
Anyone who has carried out strenuous work for at least 7 years in the last 10 years of working activity in the case of pensions effective by 31 December 2017, and for at least half of the overall working life in the case of pensions starting after that date, can take early retirement date.
– Early workers
From May 12, early workers (i.e. those with at least 19 months of contributions paid before the age of XNUMX) who fall into one of the following categories will be able to retire:
1) unemployed;
2) people who assist a spouse or a first-degree relative cohabiting with a severe disability;
3) people with a civil disability equal to or greater than 74%;
4) workers who carry out strenuous activities.
– Advance temporary supplementary annuity (Rita)
Also from 2017 May 31 (and on an experimental basis until 2018 December XNUMX) workers who lose their jobs will be able to request the Advance temporary supplementary annuity to supplementary pension schemes, which will be tax facilitated.
- Fourteenth
The fourteenth salary will also be granted to the 1,2 million pensioners with total personal incomes of up to one thousand euros a month. The 2,1 million pensioners who already received it, those with a check of up to 750 euros a month, will see the amount increase by 30%. The cost to the State is 1,9 billion.
– Inps separate management
The pension contribution rate is reduced to 25% for self-employed workers with a VAT number enrolled in the INPS separate management (and not in other funds).
- Free reconciliation of contributions
For those who have paid contributions to different entities, the reunification will become free. However, there will be a disadvantage compared to the past: it will no longer be possible to choose the most convenient calculation method among those of the various institutions, because the check will be calculated pro-rata, ie with the rules of each institution for the relative contribution quota. Furthermore, the free reunion only concerns public management, not the coffers of professionals.
– No tax area
The income threshold that will allow pensioners to return to the no-tax area will rise to 8.125 euros gross per year, the same as for employees. The novelty does not only have to do with very low pensions, since the deduction on that portion of income applies to all pensioners who declare up to 55 euros gross per year.
– Exodates
The eighth safeguard for expatriates also arrives with the Budget law, which includes another 27.700 people. The cost is 1,5 billion.
TREASURY
– VAT: increase averted in 2017
This is the most onerous chapter of the entire manoeuvre. To sterilize the safeguard clauses on 2017, which would have led to an increase in VAT rates from 10 to 12% and from 22 to 24%, the Government is allocating 15,1 billion euros. The new budget law, however, also provides that in 2018 VAT will rise from 10% to 13% and from 22% to 25%. Price increases that presumably the Government will try to avoid, but which for this year serve to make ends meet on paper. The sterilization of the VAT increase in 2018 will cost another 19,571 billion.
– Earthquake bonus
The home bonus expected until the end of 2016 is extended until 2021 for seismic areas to the extent of 50%. The deduction rises to 70% if the interventions determine the passage to a lower seismic risk class and to 80% if the passage is to two lower classes. Up to 600 million expected in 2017 for reconstruction.
– Ecobonus
The 65% deduction on interventions to improve the energy efficiency of buildings (ecobonus) is renewed for the whole of 2017. In the case of condominiums, the extension extends until 2021, and a 70% deduction is also envisaged for the building envelope. building and 75% for the expenses for the common areas. Hotels, farmhouses and accommodation facilities will have a 50% tax credit for the renovation works.
– Bonus furniture and appliances
Those who take advantage of the renovation bonus will also be able to take advantage of the 50% furniture and appliances bonus next year, with a spending limit of 10 thousand euros.
– Bonus mothers and kindergartens
From 2017 January 800, every seventh month of pregnancy will receive a bonus of 2016 euros. Another thousand euros a year will come to pay for nursery school for children born on or after January XNUMX, XNUMX. The mandatory leave for fathers is extended by one year.
– Bonus 18 year olds
Confirmed the 500 euro bonus to carry out cultural activities for children who turn 18 in 2017.
– Research bonus and brain return discount
The tax credit for investments in research and development, currently envisaged until 2019, is extended to 2020. It can only be used in compensation and starting from the tax period following the one in which the investment was made. The reduction of the tax base for the "return of brains" extends to professionals but drops from 70 to 50%.
– Local taxes: stop the increases also in 2017
The freeze on tax increases and local surtaxes is extended to the whole of 2017, but the Municipalities that had confirmed the Imu/Tasi increase of 2016 per thousand in 0,8 can maintain it. Skip the increase in the municipal surcharge on aircraft boarding fees.
– The Rai license fee drops to 90 euros
Next year the license fee for public television will drop from 100 to 90 euros.
– Auction purchases
The registration tax for properties purchased at auction and resold within 5 years (no longer two) remains unchanged at 200 euros until June 2017.
– Voluntary disclosure and safeguard clause
from new voluntary disclosure, aimed at the emergence not only of illegally exported capital but also of undeclared cash, the Government expects to collect 1,6 billion in 2017. The potential audience is 27 taxpayers. If the revenue turns out to be lower than expected, the shortfall will be covered with spending cuts (not with increases in excise duties, as initially assumed).
– Lottery of receipts from 2018
This is one of the most curious novelties. From 2018, it will be possible to participate in the prize draw thanks to a "speaking" receipt - i.e. with the customer's tax code - issued by whoever transmits the data electronically to the Revenue. The goal, of course, is to combat tax evasion by providing incentives to ask for receipts.
– Ad hoc visa and tax discount for Scrooges
A two-year visa will be guaranteed to foreigners who invest at least 2 million euros in Italian government bonds or at least one million in the capital of an Italian company (in both cases with the obligation to maintain the investment for a minimum of two years) , or who make a philanthropic donation for an amount not less than one million euros. The visa is issued on condition that the origin of the resources is lawful. Furthermore, the wealthy who transfer their residence to Italy will be able to opt for a flat-rate tax, in lieu of Irpef, equal to 100 euros a year plus 25 euros per family member, all to be paid in a single solution.
MEASURES FOR ENTERPRISES
– Reduce hiring
Contribution relief is coming for permanent hiring of students who have carried out school-work alternation activities with the same employer. The ceiling of the contribution exemption is equal to 3.250 euros on an annual basis. Approximately 30 hires are expected in 2 years: 9.900 in 2017 and 18.900 in 2018.
– Super and hyper-depreciation
Super-depreciation at 150% has been confirmed for businesses for purchases by the end of 2017 or by June 2018 if the order is accepted by the end of the year and at least 20% has already been paid, excluding means of transport. Green light also for hyper-depreciation at 250% for the purchase of goods for technological and digital transformation in an Industry 4.0 key. The tax credit for research and development rises to 50% (with a ceiling that goes from 5 to 20 million) and is extended until 2020.
– Productivity
The reductions for productivity bonuses are growing. The 10% tax relief will be applied to amounts up to 3 euros, a threshold that rises to 4 euros if companies involve workers on an equal footing in organizing work. The income ceiling rises from 50 to 80 euros gross per year. For the state, there is a possible loss of revenue of 389 million in 2018.
– IRES drops to 24%
As already envisaged in last year's maneuver, from 2017 the corporate income tax will drop from 27,5 to 24%.
– SMEs: from IRI to cash taxes
Also from next year, the corporate income tax will reach 24% for SMEs (costing 1,2 billion), while the "cash" regime will be applied to taxpayers in simplified accounting for the determination of the revenues on which to pay taxes . The concessions for investments in start-ups and innovative SMEs have been extended and strengthened. The new Sabatini is extended to the whole of 2018.
– Individual Savings Plans (Pir)
An important novelty is that of the Pir, the Individual Long-Term Savings Plans, which allow natural persons to invest in shares and bonds of Italian companies without paying capital gains tax (currently 26%), nor inheritance tax or donation. You have the right to tax relief only if the investment lasts at least five years and does not exceed 150 euros (maximum 30 euros per year). If the investors are social security funds or pension funds, the investment ceiling is equal to 5% of their assets.
– The Investment and Development Fund is born
The new fund will have an endowment of 1,9 billion in 2017, which will rise to 3,15 billion in 2018 and 3,5 in 2019, to then fall back to 3 billion from 2020 to 2032. The aim is to finance interventions ranging from to hydrogeological instability, from public buildings (including schools) to seismic risk prevention.
HEALTHCARE, SCHOOL AND UNIVERSITY
– Healthcare fund at 113 billion
After much controversy, in the end the Government decided not to reduce the increase foreseen for the National Health Fund, which in 2017 will rise by two billion, to 113.
– Private schools
Private schools that welcome pupils with disabilities will receive 24,4 million euros a year. On the other hand, 25 million will go to equal nursery schools.
– No tax area for university students
There is also a no-tax area for university students who belong to families with Isee up to 13 thousand euros (about 300 thousand households). To have the complete exemption, however, the student will have to demonstrate that he has achieved a certain number of credits and is in progress. New concessions also arriving for families with Isee from 13 to 25 thousand euros.
- Scholarships
Starting from 50, the state supplementary fund for granting scholarships will increase by 2017 million euros. 400 super-scholarships of 15 euros will then be created for students in their last year of high school. They can be requested by those who have an ISEE equal to or less than 20 euros and an average grade equal to or greater than 8 already in the penultimate and third last year. The scores of the Invalsi tests will also be added to these requirements. To finance these scholarships, 6 million have been allocated for 2017, 13 for 2018 and 20 from 2019 onwards.
OTHER SIZES
- Earthquake
7,1 billion is coming from 2017 to 2047 for post-seismic reconstruction: 6,1 billion for private spending and 1 billion for public reconstruction.
– Public service
A fund is set up to finance the renewal of public administration contracts, 80 euros for the military and police and the new hiring of policemen, firefighters and agency employees (including tax agencies). The budget is 1,920 billion euros for 2017 and 2,630 billion from 2018. The bill also includes the 300 million already allocated last year and never used.
– Bank redundancies
Almost 650 million until 2021 for the redundancy fund for banks and all sectors for which bilateral solidarity funds are envisaged. The measure applies to a maximum limit of 25 employees in the three-year period 2017-2019.
– Superenalotto competition
The management of the Superenalotto is put back into competition. The starting bid is 100 million and the dealer premium is 5%. The duration of the concession is 9 years.
– Frequencies
The reorganization of the system of expiring frequency concessions has been confirmed. If the auction does not bring in revenues of 2,01 billion, the Mise provisions will be reduced.
– Africa Fund
A new fund has been created to support dialogue with African countries. The funding, foreseen for 2017 only, is 200 million euros.
