On one of the hot topics of the moment, the haircut first home tax, also comes the intervention of Bank of Italy which explains how "household consumption could benefit from this reduction" but also underlining that "property taxation is very widespread in the world" and that the real estate levy on first homes is considered "optimal from the point of view of financing local authorities ”.
However, during his hearing in the Senate on the update of the Def (Economics and Finance Document), the deputy general manager of Bank of Italy Luigi Federico Signorini warned that "the frequent changes to real estate taxation in recent years could lead families not to consider the relief now planned as permanent, significantly limiting the effects of the measure on consumption choices".
Therefore, a cautious openness on the subject of the theme emerges from the Via Nazionale institute cut of the Tasi and the Imu (on luxury properties) for first homes as long as it is a definitive action and above all perceived as such by citizens who, only in this case, will be able to spend more by boosting consumption in our country. And precisely on this point from a qualitative point of view, Bank of Italy appreciates the intention to avoid the increase in VAT rates which, in Signorini's words "is consistent with the objective of not hindering the still uncertain and gradual economic recovery ”.
Finally, the Deputy Director of the Bank of Italy Signorini stresses that "other tax interventions could also contribute to the relaunch of activity in the construction sector" such as a reduction in the tax wedge on labor and corporate taxation as well as "balanced and widespread interventions in urban planning and the environment".
