Editorial team
“Yesterday we developed the desire to ask for further contributions from the big banks, which have a certain turnover, therefore not the small banks”, said Matteo Salvini. After the summit at Palazzo Chigi he stated what had been one of the League’s goals for the past week: “Given that they will end the year with 50 billion in revenue, I don’t think that half a point more IRAP will spoil their Christmas and New Year celebrations”, that’s why. This is an attempt to find changes that should be made to the maneuver. One hypothesis being tested is the possibility of adding a half percentage point to the 2 point increase in IRAPs at banks and insurance companies already expected by that measure. But further intervention against the bank risks further escalating tensions with Forza Italia, which considers fresh discussions with ABI necessary before intervening.
“Antonio Tajani, who was present at yesterday’s summit, was clear”, said group leader in the Chamber Paolo Barelli: “he said that since the 2-point increase was the result of an interlocution, we need to talk again. We are against a tax on additional profits. We need to sit down and discuss”. Although FI admits that further “sacrifices” may be needed to finance the changes: “Forza Italia – again Barelli – is to eliminate article 18, with its double taxation of company dividends”. The Azzurri already underestimated the cancellation of the IRAP for non-financial companies, “now let’s see – he continued – where they will get the coverage. The contribution from banks and insurance companies is determined after dialogue with banks and insurance companies and is politically justified, for non-financial companies, it is not. And I think that has been achieved”.
For hedging, there is also a new possibility, in addition to a tax (of 12.5 or 13%, depending on the proposal) on gold investments, a tax of 2 euros on small packages, especially those from China, which would also serve to fight ultra-fast fashion (they are like an “invasion of locusts”, said the minister Adolfo Urso, repeating that action needs to be taken at the European level, or meanwhile at the national level), the Fratelli d’Italia has proposed a taxation on financial transactions, the so-called Tobin Tax. Deputy Economy Minister Maurizio Leo was cool on this: “This is happening in other countries too. We’ll see. This is a topic that frankly I will keep to the current situation, but let’s see what can happen.” Of course the basis is that for modification, the scope must be demonstrated. “We said that we started at 18.7 billion and we have to close at 18.7 billion”, reiterates Leo, who is however open to interference with the dividends demanded by the FI: “of course lower the threshold” of qualifying shareholdings, “let’s see how to meet further demands, for example saying whether the cost of shareholding does not exceed a certain amount or looking at whether the shareholdings are held for a long period of time”.
Another chapter is about home. On short-term rentals, the point of failure could be capping the flat rate tax increase at 26% for those running short-term businesses, with more than three properties (the maneuver also stipulates that for those renting just one, the previous rule was up to five). “There is a total convergence in some respects”, Salvini underlined in this regard: “reducing what is hypothesized to be a tax increase for those who rent out their place, their two-room apartment, their apartment, to the limit of three apartments” while “extra efforts seem reasonable to me for large properties”. Topics such as the expansion of abolition (which Salvini says he is “already very happy”) and the real estate amnesty, for which the Fratelli d’Italia has proposed four amendments, remain to be clarified. “I am the Minister in charge, so I will handle it myself”, recalled the League leader.
