The army of Italian VAT numbers has something to hope for. The Government has repeatedly declared its intention to simplify bureaucracy and reduce costs for them, and this time we should be there, even if the measures will in all probability be staggered over time.
The first rules could see the light by the end of May with a corrective to the simplification decree implementing the tax delegation. These should include various simplifications at no cost, articulated on the basis of two fundamental principles: less communications, more digitalisation. It should therefore be said goodbye to the Spesometro, while various communications (assignment of goods to shareholders, financing to shareholders, black list operations or declarations of intent) could end up among the "reward measures" to encourage VAT numbers to communicate all invoice data.
It will also be upgraded electronic invoicing (that among private individuals expected to start in 2017) and will become the notifications of cadastral documents and those of the Revenue Agency are also digital, which will be sent to professionals and businesses via Pec. The taxman will then stop asking for the data it already has: only the changes will have to be communicated.
Two other measures concern the summer moratorium (which provides for the suspension of administrative terms to be paid by taxpayers), and the automatic extension of 60 days of the payment and declaration deadlines in the event of delays by the financial administration in issuing implementing provisions, instructions or prospectuses (basically, at least 60 days must pass between the introduction of a rule and its fulfillment).
As for the paper F24 model, will return for non-VAT holders, while model 770 could be eliminated or drastically simplified. Instead, the Revenue Agency proposes a sort of pre-compiled form.
Further innovations could be postponed to be included in the "Finance for growth 2.0" decree law, announced several times by Treasury Minister Pier Carlo Padoan. Still others should arrive at the end of the year with the 2017 Stability Law.
The new one should see the light just at the end of the year flat tax – which has already been referred to as Entrepreneur's Income Tax (IRI) – under which personal businesses that leave profits in the company will benefit from proportional rather than progressive taxation (Ires and not Irpef).
Another expected measure provides the introduction of the criterion of cash to determine personal business income in simplified accounting, a method that would also allow these individuals to pay taxes on what they actually earn, as professionals do.
The Stability law could always contain theabolition for some categories of sector studies (which will be used only for compliance, no longer for assessments), the definition of the autonomous organization to guarantee professionals and micro-enterprises the non-application of Irap and the increase in the deductibility quota of the Imu from the income of company (today at 20%).
