• Tue. Dec 7th, 2021

Irpef, new rates: who will pay less and who will lose

Byeditorial

Nov 26, 2021

Irpef, with the reform it goes from 5 to 4 rates. The government’s intention is to achieve a concrete tax cut, but it does not mean that this will be the case for everyone. As for the IRPEF reform, approved by the majority groups at the Ministry of Economy, which therefore cuts the rates from 5 to 4 by widening the last bracket, there are those who fear that medium-high incomes will be penalized by the new system points out laleggepertutti.it. But let’s see what the reform consists of, which will now have to pass the examination of the Prime Minister, Mario Draghi, and of the parties that support him and then it will be translated into an amendment to the 2022 budget law, currently being examined by the Senate, to be approved by December. Currently, the system of personal income tax rates by income bracket is set up as follows: up to 15,000 euros: 23% rate; from 15,000 to 28,000 euros: 27% rate; from 28,000 to 55,000 euros: 38% rate; from 55,000 to 75,000 euros: 41% rate; from 75,000 euros: 43% rate. With the reform approved by the majority groups, the scheme becomes as follows: up to 15,000 euros: 23% rate; from 15,000 to 28,000 euros: 25%; from 28,000 to 55,000 euros: 35% rate; from 55,000 euros: 43% rate. of Italian taxpayers), which means – at least on paper – that those with an income in this range will pay 2% or 3% less tax than before. Nothing changes for the lowest incomes, up to 15,000 euros, and for the highest ones, from 75,000 euros upwards: the rates remain unchanged, therefore they will pay – again on paper – the same Irpef. The problem arises for those who fell within the bracket that disappears with the reform to be incorporated into the higher rate: those who earn from 55,000 to 75,000 euros will no longer pay 41% of Irpef but 43%. A 2% increase, in short, which the Government promises, however, to compensate with a revision of the tax deductions. In this way, the tax cut would become concrete for everyone, and it is precisely the intervention on the deductions that promises the greatest savings on taxes. Because – underlines the Ministry of Economy, one thing is to look coldly at the rates and another is that of the real reduction of taxes considering also the tax discounts. averages should be read with these numbers: – incomes between 35,000 and 40,000 euros will have an average saving of 5.2% for employees, 3.1% for the self-employed and 3.5% for pensioners; – incomes between 40,000 and 45,000 euros gross per year will achieve an average saving of 6.4% compared to today, with a peak of 7.5% for employees, a discount of 3.9% for the self-employed and 4.2% for retirees ; – incomes between € 45,000 and € 50,000 will see savings of 5.5% for employees, 4.3% for the self-employed and 4.6% for retirees. 55,000 euros or more if a higher rate is envisaged, they will enjoy some benefits due to the future revision of tax deductions. On average: incomes between 60,000 and 65,000 euros will have a saving of 3.1%; incomes between 65,000 and 75,000 euros, 2.2%. But how do all these percentages translate into money? This is explained by an elaboration by Caf Cia for the newspaper ItaliaOggi, taking as an example an income of 50,000 euros. To date, with the 5-rate system, it has a taxable income tax of 15,320 euros. With the 4-rate reform, the taxable amount rises to € 14,400, saving the taxpayer € 920 in taxes. Other examples contained in the elaboration published by the newspaper show these data on the modest and highest bands: – incomes up to 22,000 euros: savings of 140 euros; – incomes up to 25,000 euros: savings of 200 euros; – incomes up to 70,000 euros euros: savings of 370 euros; – income up to 80,000 euros: savings of 270 euros. New also with regard to the No tax area, with a particular benefit for the self-employed: the tax-free income threshold will go from 4,800 euros to 5,500 euros EUR. For other taxpayers, the limit remains unchanged at € 8,174. The self-employed (about one million individual firms and individuals with VAT number) will also say goodbye to IRAP. A first step to completely eliminate the tax on productive activities, an objective already expressed by the Government.

One thought on “Irpef, new rates: who will pay less and who will lose”
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