The green light arrives from the CDM to tax reform: only for 2024 le personal income tax rates they will reduce three to four. This change will have a direct impact on the second income bracket, between 15 thousand and 28 thousand euros, bringing the tax bracket to 23%. Palazzo Chigi had already given the green light before the Christmas break, but subsequently the government chose to coordinate the text with that of the maneuver, which will be definitively approved today, Friday 29 December, by the Chamber of Deputies. The Deputy Minister of Economy, Maurizio Leo, declared that the four legislative decrees approved are of great importance. These new measures will help simplify the tax system, making it fairer and more dynamic.
However, the decision to keep the cutting deductions for donations to political parties has generated intense debates in the CDM. Donations will suffer a reduction of 260 euros, while the deductions for non-profit organizations and third sector bodies will remain unchanged.
Tax reform: the new rules
The reduction of the Irpef rates to three will lead to themerging of the first two brackets of income: the 25% rate is thus abolished. In the new version you will pay 23% up to 28 thousand euros, 36% over 28 thousand euros and up to 50 thousand and 43% over this figure.
This will generate a saving annual average of 160 euros for taxpayers, with a maximum of 260 euros for those in the income range between 28 thousand and 50 thousand euros. Above 50 thousand euros, however, the advantage will be canceled out by the cut in deductions which will result in a cut of 260 euros.
The Irpef decree also includes a increase in the deduction for employee work, aligning the no tax area to 8.500 euros, as for those with pension income. The remodulation of the calculation of the supplementary treatment aims to avoid the loss of the benefit for incomes up to 28 thousand euros.
The next challenge for the government will be the stabilization of tax and contribution cuts, financed until 2024 with almost 15 billion euros.
The ballet of implementing decrees in tax reform
As previously announced, there are others three implementing decrees of the reform. Among the new features, the dispute is being addressed following the observations of the House and Senate commissions last week, which are not binding but significant. Cooperative compliance is undergoing adjustments, with the possibility of involving labor consultants, aimed at large companies with progressively reduced access thresholds of up to 100 million euros. Responding to parliamentary requests, the Taxpayer's Statute provides not only the obligation to provide reinforced reasons in the event of rejection by the Tax Office of the defense observations, but also an extension of the mandatory self-defense. The latter includes the error on the tax basis, the consideration of regular payments and the remedied documentation, within the deadlines established to avoid forfeiture.
