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Goal is to lower personal income tax - Leo (3) - Business

2024-01-29T10:00:29.567Z

Highlights: Goal is to lower personal income tax - Leo (3) - Business. Italy's bottom twopersonal income (IRPEF) brackets at 23% for income up to 28,000 euro, cutting the second lowest from 27%. The others at 35% for Income between 28,00 and 50,000 euros and at 43 % for income over 50,00 euros. "We want to lower taxation for the middle classes," says Deputy Economy Minister Maurizio Leo. ALL RIGHTS RESERVED.


The government is committed to confirming the reduction in personal income tax IRPEF, Deputy Economy Minister Maurizio Leo said on Monday. (HANDLE)


The government is committed toconfirming the reduction in personal income tax IRPEF, DeputyEconomy Minister Maurizio Leo said on Monday.


   "In the coming years, our commitment will certainly be to confirm the reduction in rates," Leo told the National Forum of Accountants and Accounting Experts.


   "At a time when, in the context of a much more transparent and collaborative relationship with the world of businesses and self-employed professionals, the incomes they declare will be greater, we are strongly committed to saying that rates must belowered," he added.


   "We have done it in 2024, we will have to do it again in 2025, also considering that the current mechanism of three brackets penalizes the middle classes," continued Leo.


   "We want to lower taxation for the middle classes," he said.


   In its 2024 budget the government merged Italy's bottom twopersonal income (IRPEF) brackets at 23% for income up to 28,000 euro, cutting the second lowest from 27%, and leaving the others at 35% for income between 28,000 euro and 50,000 euro and at 43 %for income over 50,000 euros.


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Source: ansa

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