Taxes maneuver? Here are the numbers: hit banks, insurance companies, plastic and soft drink companies, dealers and oil companies


There Budget law for 2020 is or is not "the maneuver of the tax"? Prime Minister for days Giuseppe Conte he silences the controversy by remembering that he will avoid the dreaded VAT increase of 23 billion and it must therefore be considered the financial institution that "has made the most conspicuous tax cut in recent years". On closer inspection, there are new taxes and increases: it amounts to about 5.8 billion the additional revenue that will arrive in the coffers of theTax authorities next year due to the expected increases. However, the bulk will hit banks, insurance, manufacturing companies of plastic and sugary drinks, motorway concessionaires and who owns actions in unlisted companies or land. There is also an increase inexcise duty on oil and natural gas used to produce energy, they rise royalties paid by oil groups and there comes the web tax on digital services for Internet multinationals.

The high taxes that in 2020 could have a direct impact on the budget of a family type are worth around in all 880 million euros (the 15% of the total burdens) of which 118 from the excise duties on tobacco products and from the tax on filters and maps is 51 from the hold on paper meal vouchers. The unification of iMU is Tasi instead, according to the technicians, it will cost the citizens 14.5 million. The heaviest item is the "tax on fortune"Which obviously concerns only those who win at game. This net of the close on flat tax for VAT which involves 492 million additional revenue. From 2021 the effect of the will begin to be felt reduction of deductions tax for those with high incomes (yes return to zero over 240 thousand) and for those who choose to pay in cash: worth 977 million euros, of which 110 to be paid by the about 300 thousand tax payers that declare more than 120 thousand euros.

Banks and insurance companies, plastics and sugary drinks, motorway concessionaires – The annexes to the maneuver filed in Parliament show that the most substantial tax increase is linked to the slip of deductibility of write-downs and losses on receivables of which "credit and financial institutions" – essentially banks and insurance companies. Depending on the type, they will be deductible only from 2022, from 2025 or from 2028. The narrow is valid, in 2020, 1.6 billion. A similar intervention is also foreseen for the motorway concessionaires: is limited to1% of the cost of the goods the deductibility from taxes of the depreciation quotas, that is the "installments" in which an investment is divided which spreads effects over several years, such as those in the infrastructures they manage. The result is an increase in taxable income and a higher revenue of 340 million.

from plastic tax of 1 euro per kilo on packaging and disposable plastic products will come later 1 billion. Which should not weigh on the final consumer unless the producers decide to increase prices: the impact, for example of the bottles of mineral water, it will stop anyway a 2-3 cents of Euro. There sugar tax instead, according to the technical report, it is a "tax on the consumption of beverages with added sugar" but will hit manufacturers, importers and buyers of imported products. The expected revenue is of 233 million. Difficult to estimate the impact on the pockets of the average citizen, but the firm point is that the declared goal of the government is to reduce a consumption harmful to health.

Tax on equity investments and land – But, in order of expected revenue, in third place – well before the sugar tax – there is the revaluation (based on a sworn appraisal) of the value of holdings in unlisted companies and land both agricultural and building owned by natural persons and simple companies. On the redetermined value a11% substitute tax. Worth over 820 million euros of revenue.

Flat tax posts and close on company cars – Immediately afterwards the squeeze is placed on 15% flat tax for VAT entries with revenues of less than 65 thousand euros. Adding up the higher revenue that will come from those who leave the facilitated regime because they have received employee income higher than 30 thousand euros or paid more than 20 thousand euros to collaborators or employees and the cancellation of the planned extension of the flat fee to those who bill between 65 thousand and 100 thousand euros, the state makes money 492 million. Follows, with 330 million euros of expected revenue, the controversial heavy tax on company cars aimed at making the fleet less polluting: salt from 30 to 60% the distance for private use taxable, with the exception of hybrid and electric cars. To be affected would be 1.5 million vehicles, from city cars and small cars that are 40% of the market to sedans that are worth just over 20%. However, the tax is the target of Italy alive and could be reworked during the parliamentary passage to reduce its impact.

Increase the tax on luck, the web tax arrives – Another heavy item is the "tax on fortune"Which will weigh on who wins at game and adds to the increases of the withdrawal from dealers provided for in the tax decree: the single tax on winnings exceeding 500 euros both in the lottery and in the "totalizer numerical games " ranging from Superenalotto to Win for life. Revenues from the concessions that will be put to tender next year will materialize instead only in 2021 and amount to 909 million per year, according to the technical report. Remaining on the subject of taxes on the big names, from 1 January 2020, a tax on digital services of 3% will be applied to revenues generated by web groups with global sales exceeding 750 million, of which at least 5.5 million in Italy. The tax, which will not affect consumers, is worth 108 million euros for the first year.

I microbalzelli, from criminal certificates to consular rights – The other microbalzes provided by the Budget law have a minimal impact: there are for example thestamp duty of 2.4 euros per sheet for the issue of criminal certificates, the increase in consular rights for long-stay visas (from 116 to 130 euros) and for the application for recognition of Italian citizenship of an adult (from 300 to 600 euros) and the tax on capital gain obtained by whom resells home within 5 years from the purchase that goes from 20% to 26%. They are worth respectively 25, 23 and 19 euros of revenue. Small change in the state budget.


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Peter Gomez

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