Revenue boom for the treasury: 33.5 billion more in the first months of 2024. And so, perhaps, two much-discussed topics return to the table of the Maneuver: the reopening of the six-month period of silent consent to grant severance pay (desired by the majority) and the minimum wage (by the opposition).
The report from the State General Accounting Office notes a performance in tax and contribution revenues never seen in recent years, with an increase of 33.5 billion euros (+5.6% compared to the same period in 2023). Taxation is the main driver of this growth, contributing an extra 27.9 billion euros (+6.5%). Among the most dynamic items, Irpef stands out, supported by the increase in employment and higher incomes. Ires, which reflects the economic results of companies, also recorded a surge of 10.2%, equal to over 3 billion additional euros. Dividends distributed by companies jumped by 25.2%, generating an extra billion euros.
Another significant contribution comes from the substitute tax on interest and capital income, which brought in 5.8 billion euros (+74.3%), driven by the increase in interest rates. Indirect taxes also made their contribution, with an overall increase of 6.8 billion euros (+4%), driven in particular by VAT (+4.3%).
The tax assessment and control activity recorded a +29% compared to 2023, with an income of 2.4 billion euros. This includes payments relating to the “quater scrapping”, which allowed many taxpayers to settle debts with the tax authorities at favorable conditions.
Local authorities also benefited from a large growth in revenue, with 2.8 billion euros more than in 2023. The regions lead the increase thanks to IRAP (+8.3%) and additional IRPEF (+ 8.6%), while the municipalities collect a further 335 million from local Irpef (+8.2%) and 70 million from Imu (+0.7%).
A boom in revenues that provides the government with more margin for financial maneuvering, but certainly does not solve the problem of coverage for the new measures. These numbers can influence the procedure of the Maneuver.
An amendment by the opposition (united front of Pd, M5S, Avs, AZ and Iv) for the introduction of the legal minimum wage, initially excluded, was readmitted to the debate in the Budget Commission. On the opposite front, the majority is pushing for an amendment that reopens the possibility of conferring severance pay to pension funds with the silent consent mechanism. The measure (supported by Lega and Fratelli d’Italia) aims to strengthen complementary pensions, encouraging workers to diversify their sources of retirement income.
