All the numbers of Nadef on taxes and fees
Nadef estimates the amount of higher revenues compared to the forecasts formulated in the Def: this is about 6.7 billion in higher revenues than estimates. All the numbers and details
Nadef estimates the amount of higher revenues compared to the forecasts formulated in the Def: this is about 6.7 billion in higher revenues than estimates, thanks to the improvement in tax compliance. Consequently, all the higher permanent revenues, deriving from the improvement of the spontaneous fulfillment recorded in 2018, can potentially be allocated to the Fund for the reduction of the tax burden, the document reads. The potential Fund is estimated at 4.357 billion for 2021. "The Government confirms its intention to reduce the tax burden by using primarily the resources deriving from the fight against tax evasion in the context of the budget session", is written in the Nadef.
Nadef, here is the full text. What will the government do about taxation, debt and more
“The programmatic path allows for the implementation of the social safety nets reform and a first stage of the tax reform. The universal single allowance for children will be fully implemented. Revenues from the review of environmental taxes and environmentally damaging subsidies will be used to reduce other burdens on production sectors. Budgetary resources will increasingly be directed towards investment and expenditure on research, innovation and education. With the next Budget Law 2022-2024 the health system will be strengthened in order to improve access to care and encourage prevention. Additional resources will be allocated to the renewal of public contracts and the refinancing of unchanged policies not covered by current legislation ”(peacekeeping missions, investment funds and renewal of some expiring policies). "The extension of various measures of economic and social importance will be envisaged, including the Guarantee Fund for SMEs and incentives for the energy efficiency of buildings and innovative investments". We read in the draft of the Nadef that has just been approved.
Nadef, here is the full text. What will the government do about taxation, debt and more
The draft of the Nadef states that "compared to the trend scenario, the net debt path is higher by more than one percentage point of GDP starting from 2022. This implies an impact on GDP that can be estimated at almost 0.5 percentage points of additional growth compared to the trend in 2022. The net debt differential between the two scenarios widens further in 2023, to 1.5 points of higher deficit, giving rise to an impact on the real GDP growth rate of almost 0, 2 points. In the final year the deficit differential is reduced to 1.2 points, which gives rise to a slight negative impact on GDP, which is however substantially offset by the delayed effect of the impulse inherited from the previous two years ”. The Nadef also reports the trend in the tax burden under current legislation: it will drop by about 0.9 percentage points compared to 2020, reaching 41.9% of GDP in 2021; in 2022, it will remain almost stable, at 42%, while for the following years an average decline of about 0.2 points of GDP per year is expected, up to 41.5% of GDP in 2024. Net of the measure concerning the disbursement of the benefit of 100 euros per month, the tax burden would go from 41.2% in 2021 to 40.9% in 2024 ″.
Nadef, here is the full text. What will the government do about taxation, debt and more
"Today the budget strategy starts which will see the Budget Law in two weeks on 15 and 16 October", said the Minister of Public Administration, Renato Brunetta, interviewed on the sidelines of the Confcommercio Assembly. “Today – Brunetta also pointed out – we approved in the Council of Ministers a Nadef with a growth of 6%, which had never been seen in the last 30-40 years. It is certainly a rebound, but there is certainly also an autonomous growth component that puts us in the lead in Europe. We are the first country for growth rate; debt and debt / GDP ratio are decreasing, as is the deficit ”.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/tutti-i-numeri-della-nadef-sul-fisco/ on Wed, 29 Sep 2021 13:55:46 +0000.