The government is preparing a tax reform for the rich.  Low taxes on Porsche and Ferrari, low costs if you play the stock market

The government is preparing a tax reform for the rich. Low taxes on Porsche and Ferrari, low costs if you play the stock market

Removal of high car tax on luxury cars, abolition of tax on financial transactions and increase in deductions for additional pensions. These are the three main courses that many are working on with regard to submission of revisions tax reform authorityexpected by next Friday. Interventions that, as can be easily understood, benefit only the rich classes, especially regarding the first two. In fact, superbollo is only used for cars whose power exceeds 185 kW, in general, these are SUVs, luxury or sports cars such as various Porsches, Ferrari, etc. Not exactly a message consistent with the promise to reduce gas consumption and emissions, as well as a questionable measure from the point of view of justice. In the field there are also amendments tobin tax, or the tax on financial transactions, of which the complete cancellation or inclusion of the exemption of activities outside the regulated markets is expected. This is a withdrawal of 0.1% which applies to transfer of share ownership and other equity instruments that have been issued by companies residing in the Government area. As is known, stock ownership is concentrated in almost entirely among the highest income brackets and it increases as wealth increases. The tobin tax, a small percentage, has some effect on those who move large amounts of capital and frequently, usually speculators.

Among the recommendations under the study there are also decrease in Ires (corporate profit tax) and a reduction in withholding tax for the self-employed. It is worth remembering that reducing taxes means benefits for those who do not have to pay them but also less income for the public treasury and therefore less money available to finance health services, education, etc., the reduction which has affected the worst. who have low income. “Next week, the tax reform amendment will be presented and I am confident that before the summer break the members will be approved. We are at a very advanced stage. We can issue the first legal orders as early as 2024” said the Deputy Minister of Economy and Finance this morning, Maurice Leo, beside the meeting in Enna. Yesterday some deputies from the majority (Annarita Patriarch from Forza Italia, Simon Loizzo of the League and Luciano Ciocchetti of Fratelli d’Italia) filed a motion to remove VAT from cosmetic surgery operations. “The concept of health includes every condition of complete physical, mental and social well-being which ‘does not only include the absence of illness or weakness’, explained Patriarca.