Composition with creditors bis. The Council of Ministers, as expected, approved the decree-law which reopens the terms for adhering to the tax proposal. VAT numbers now have until December 12th to agree with the tax authorities on taxes for the two-year period 2024-2025. Objective? Strengthen revenue for financial maneuver.
As of 31 October, the date of the initial deadline, over 500 thousand VAT numbers had signed up, including ISA (synthetic reliability indicators) and flat-rate subjects, for a total revenue estimated at around 1.3 billion euros. A figure well below the government’s expectations, which had budgeted 2 billion euros. The objective of this reopening is precisely to fill the gap, to make new resources available to cover one of the majority’s priority measures: the reduction of the second Irpef rate from 35% to 33% for incomes between 28 thousand and 50 thousand euros.
The day after 31 October, given the numbers, the hypothesis of a second agreement immediately gained strength. Today the decree-law reopens the window for membership. Those who submitted their tax return by October 31st therefore have until December 12th to adhere to the tax proposal. “It could only be done now because it was necessary to wait for the final revenue from the October concordat to plan any tax reductions from 2025”, declared the deputy minister of Economy, Maurizio Leo.
Observers and trade associations, such as the National Accountants Association (ANC), estimate that this extension could generate additional revenue of between 200 and 400 million euros, although they warn that the result could still remain far from the initial objectives .
The decree, as an amendment to the tax decree, will now pass to the Budget commission of Palazzo Madama. This move will allow us to accelerate, inserting the additional revenues generated by the composition with creditors into the next Budget Law.
