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A maneuver anomalous, suspended between the need to continue some of the emergency measures of 2020 and the expectation that European funds will be used for more structural interventions for development. The one approved last night by Camera, with 298 yes, 125 no and 8 abstentions, it was a particular law also from the point of view of the timeliness of parliamentary procedure. The test in Montecitorio actually started only in the second half of November, with a delay of about a month compared to normal practice, and there will be no time in the Senate except for a very quick formal approval. Paradoxically, however, the deputies had more financial space for their own needs for micro-measures and sectoral interventions: the batch of amendments also aroused a rather lively reaction from the State Accounting Office, which asked to cancel or limit some of the corrections. In the end, however, with some adjustments, the news passed.
Many of the rules seek measures that are better defined in the future, limiting themselves to foreseeing the budget allocation. This is the case, for example, of the universal child allowance, which should start in the middle of next year. One of the most debated topics was the extension beyond 2021 of the super bonus of 110% for construction works. The M5S has asked for a significant extension, but at the moment only six more months have been planned.
Business and work
4 billion in dowry: the Cig arrives for the self-employed
Additional funding for interventions implemented during 2020, but also completely new tools such as income support for the self-employed. Support for companies and the world of self-employment in general is severely affected by the economic catastrophe linked to the pandemic. And it refers in part to other measures that will need to be taken in the coming weeks. The largest individual fund is precisely the 3.8 billion (more than 2021) destined to refinance the measures adopted last year.
But there are many other headings for specific interventions, such as sustainable growth, support for industrial crisis areas or the refinancing of the “Nuova Sabatini” for investments in machinery or plants (including those of Industry 4.0), internationalization, business aggregation, ecological transition. In terms of hiring, the three-year contribution exemptions for hiring workers and young people under 35 are improved. For the southern regions, on the other hand, de-taxation (30% reduction in costs for private employers) affects not only new hires, but also workers in companies. And as mentioned, the compensation for extraordinary income and operational continuity for the self-employed registered in the separate management of the Inps who had a loss of income of 50 percent began. The amount disbursed for 6 months will vary from 250 to 800 euros per month.
Prosecutor and family
Tax reform only in one year. Goodbye dads
Only a glimpse of the tax reform remains in the budget law, with the confirmation of the “second piece” of the intervention that took effect in July 2020 for the benefit of employees. This is the deduction of the Personal Income Tax that reduces the tax accrued on income between 28 thousand and 40 thousand euros per year with an amount (decreasing as income increases) starting from a maximum of 1,200 euros per year . For the state coffers it is a commitment of 3,300 million a year. The new measure, fully operational as of January 1 of this year, must therefore precede the current tax reform, which will be defined during 2021. For this, the maneuver makes available a “dowry” of 8 billion by 2022 (the year of envisaged entry into force) and 7,000 million annually from 2023.
The reform is also linked to the introduction of the universal allowance for children, which in turn has a specific fund with the availability of some 3,000 million, but will also be able to resort to credits for the reorganization of the tax authorities. Even in family matters, paternity leave is extended from 7 to 10 days. The refinancing of the layoffs of employees of companies in difficulty by Covid is also planned for 12 weeks. It is about 12 additional weeks that must be placed in the period between January 1 and March 31 with regard to the ordinary Cig, while for the ordinary check and the Cig in exception it is possible to arrive at June 30.
The development drive
Works facilitated in buildings until mid-2022. Deductions also in furniture
Since the first version of the text, the refinancing of the different concessions in force for the rehabilitation of buildings has been included in the Budget Law. Thus, next year it will also be possible to take advantage of the 50% deduction for housework, and those destined respectively for energy efficiency, the management of green areas and the rehabilitation of the facades of buildings. In the case of the purchase of furniture and household appliances in connection with the restructuring, the maximum amount of the expense on which to calculate the deduction rises from 10,000 to 16,000 euros. But the thorniest issue was the superbonus, the deduction of 110 percent (which can also be advanced by the company or a bank) for some types of works in buildings. The long-awaited measure for the relaunch of the construction sector was in force until the end of 2021.
The majority request was to extend it until 2023 or 2024, but the compromise reached in the Chamber foresees the admission for the benefit of the works started in mid-2022. For a further extension, the availability of European funds will have to be awaited, with which Ministry of the Economy intends to finance the installation. The economic operators involved emphasize that the measure needs legal certainty and a long time horizon to fulfill the function of promoting development. Also in Montecitorio it was decided to apply the benefit to other interventions such as the insulation of roofs and the elimination of architectural barriers.
Last updated: 22:14
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