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The flat tax will be for everyone, but only on additional income: the hypotheses

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Maurizio Leo - Photo by Ansa FotoMaurizio Leo – Photo by Ansa Foto

Flat tax: the government is considering a formula that provides for a flat tax on income increases for the self-employed and employees. It would aim to alleviate the tax burden of those who experience significant ups and downs between income over the course of a year, therefore mainly the self-employed.

However, the comparison of other flat-rate tax hypotheses remains open, to decide which will be part of the finance law. Deputy Minister of Economy and Finance Maurizio Leo, in an interview with Quarta Repubblica, said that in view of the maneuver “we would like to extend the additional flat tax to employees, but the figures are robust and it is more complex to do so. However, employees – I am thinking of those in the private sector – benefit from a productivity bonus to which 10% applies up to 3,000 euros. We can take this measure out and then on the part that exceeds 3 thousand we can apply 15% or we can apply 5% on the 3 thousand euros”.

Let’s see what are the different options examined by the Mef.

Extension of the VAT number threshold

The government’s intention is to extend the 15% flat tax to a wider range of VAT numbers and to achieve this, we will go from widening the revenue and compensation threshold to applying the flat rate regime. The flat tax could also affect VAT numbers up to 85,000 euros compared to the 65,000 expected today. The formula will apply to income in 2023 and 2024.

Additional flat tax for employees

For employees, a marginal tax is currently under study. Minister Giorgetti explained that it is a question of applying a rate of 15% instead of the marginal rate of personal income tax – which varies from 23%, 25%, 35% or 43% in based on income – to the additional fraction of income from work and per business carried out in 2022, compared to the highest income of the previous three years.

However, according to recent statements by Deputy Minister Leo, this path may not be feasible.

Tax deductions

“The reorganization of tax expenditures can only be fully defined within the framework of a broader and more comprehensive tax reform plan,” reads the programmatic report on tax expenditures.

The Draghi government had already started the reorganization of the 19% levies, leaving health costs and those on mortgages for the purchase of the first home intact.

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