Tax deductions: cuts to higher incomes (from 60 thousand euros) to finance Flat tax and VAT reduction
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Government looking for new resources
On November 4, the Council of Ministers approved the Update Note to the Economic and Finance Document (Nadef) which revises and supplements the one approved on September 28, updating the macroeconomic and trend forecasts of public finance and also elaborating the programmatic scenario for the three-year period 2023-2025. In this context, there will also be a reorganization of fiscal expenses, the lines of which will be “defined in future legislative measures”. And so, after having decided to use the extra income received as an inheritance from the Draghi government (just over 9 billion deriving from higher than estimated growth, to which another twenty billion in non-profit) must be used for financial new support to businesses and families for energy, now the new government appears willing (at least according to rumors) a to put a hand to some tax expenditures, that is, those that determine the deductions at 19%, as mentioned in the electoral program shared by the center-right. In reality, even in this case, part of the work had already been started by the Draghi government, which had decided on a limit to the 19% relief for the highest incomes. The previous executive, in fact, had saved from this cut only health costs and those related to mortgages for the purchase of the first home. But now things could definitely change.
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