Fiscal Updates:
💰 Major Fiscal Changes:
💶 Income Tax Reform with 3 brackets: up to 28,000 euros at a 23% rate
✂️ Reduction of Contributory Wedge
🗑 Abolition of ACE and its replacement with capitalization incentives
🖥 Expansion of Electronic Invoicing to flat-rate taxpayers
📈 Revaluation of Land and Holdings at 16%
📌Other Significant Measures Key initiatives planned for 2024:
🌾Agriculture
🌾 Subsidized loans to the fruit and vegetable sector up to 30,000 euros
🌾 100 million fund for emergencies in agriculture
🌿Environment and Energy
⛽️ Launch of the National Energy Income Fund with 200 million in 2024
🔋 New EU legislation on batteries and their recycling
🌳 Plastic tax postponed by another 6 months to July 2024
💡 Electric bonus extended until April 2024
🏢Procurement and Public Administration
📄 New EU thresholds for tenders: 5.5 million for public works
📲 Digitization of public procurement in 2024
🗓 Local authorities' budgets: deadline moved to March 15, 2024
🏠Housing and Real Estate
🏠 Flat-rate tax on short-term rentals rises to 26% from the second property
🛋 Furniture bonus: maximum deductible expense reduced to 5,000 euros
👨👩👧👦 First home mortgages for under 36s: 80% state guarantee confirmed 🌇 Superbonus only at 70% and for condominiums in 2024
♿️ Bonus for architectural barriers: reduced eligible works
🎭 Culture and Tourism
📺 RAI license fee reduced to 70 euros for 2024
🎵Music in venues: new SIAE permit modalities
🚌 Arrival of new youth and student cards
👨👩👧👦 Families and Consumers
🤱 Nursery bonus increased for second child to 3,600 euros
👪 Single allowance revalued by 5.4% and richer in 2024
📊 Italian government bonds excluded from ISEE calculation
🆕 Launch of Inclusion Income
🐾 250,000 euro fund for veterinary expenses
💼 Finance and Savings
📈 Stricter sustainability reporting
🌳 Green bonds: proceeds to be reinvested in sustainable activities
🔐 Cryptocurrencies: increased traceability and accessible information
📊Tax and Business
• 💶 Income Tax Reform with 3 brackets: up to 28,000 euros at 23%; from 28,000 to 50,000 euros at 35%; over 50,000 euros at 43%. Regional and municipal surcharges to be adjusted. Increased employee tax deductions up to a maximum of 1,955 euros. 🗑 Abolition of ACE (Aid for Economic Growth) and its replacement with capitalization incentives.
🖥 Mandatory electronic invoicing extended to flat-rate taxpayers (except for doctors and healthcare workers).
📈 Possible revaluation of holdings and lands outside the business regime, with a substitute tax at 16%.
📑 Stricter corporate sustainability reporting, expanded to non-listed companies.
🔼 Maximum limit for "de minimis" State aid increased to 300,000 euros. 🆕 Establishment of an insurance guarantee fund for life branches at companies. 💶 Implementation of the global minimum tax in Italy at a 15% rate.
🏡 Increase in IVIE (tax on foreign real estate value) from 0.76% to 1.06%.
💰 Tougher taxation (IVAFE at 4 per thousand) on accounts and deposits held in tax-advantaged countries.
📅 Extended regime for expatriate workers.
🔄 Introduction of new concept of fiscal residence.
✂️ Simplified rules for foreign-controlled companies (CFC).
💸 Incentives for relocating foreign activities to Italy.
🗓 One-year extension for notifications of recovery acts for building incentives.
🍬 Sugar tax debut postponed to July 1, 2024.
📝 Restyling of cinema tax credit and other measures on stock options and capital gains.
⚖️Justice
⚖️ Fund for honorary magistracy reform
📈 PNRR goals on backlog disposal: -95% by December 2024
📑 Paper filings in criminal proceedings allowed until December 2024
👨⚖️ Delegation to honorary judges in minor courts until October 2024
🎓Education and University
🎓 Teachers' salary increase by 6.7 times the current amount
👩🎓 Facilitated hiring of PhD graduates
📚 Reform of degree classes from the academic year 2024/2025
👷♂️Labor and Pensions
👨👩👧👦 Fringe benefits up to 2,000 euros for employees with children
✂️ Contributory wedge cut also confirmed in 2024
👵 Woman's Option confirmed in 2024
🧓 APE Social extended up to 63 years and 5 months in 2024
🕰 Early retirement with 41 years of contributions
🔄 Pensions of PA employees: recalculated retributive part
💼Professionals
📚 Mandatory training for accountants from January 2024
☂️ Reformed INARCASSA welfare in 2024
📝 In-person state exams from 2024
🏥Healthcare
💉 Extraordinary plan against waiting lists
🏥 Hospital drug distribution entrusted to pharmacies
🤝Third Sector
😇 Tax simplifications for volunteering and associations