Tax reform, “Zero VAT and foreign taxpayers: the government’s plans”

The measures illustrated by the Deputy Minister of Economy Maurizio Leo

Compliance cooperatives also for natural persons to attract foreign taxpayers, zero VAT rate: these are some of the measures in the tax reform construction site presented by the Deputy Minister of Economy Maurizio Leo at the conference on tax delegation organized by the ‘Sole 24 Ore’ group with the Department of Business Economics of the University of Roma Tre and the full professor of Tax Law Giuseppe Marini.

All obviously tied to the resources to be found in the Update Note to the September Economic and Financial Document. “The zero rate” for VAT “it is an objective, let’s see how to tackle it”, he underlined, explaining that the measure falls within the “second segment of the reform, it is linked to taxes for which we must necessarily find the resources because we must not leap forward”. The coverage will emerge in the Nadef, while the first 4 billion for the reduction of the tax burden have already been identified in the Def of last April.

Among the measures under study is also the extension of the “cooperative compliance mechanism for natural persons to give certainty to the natural person who comes to Italy, it is something that makes our country attractive which, in addition to food and culture, also has a good tax system”, continues Leo.

Also focus on tax relief for the return of companies from abroad or the entry of new companies. “We already know that if a company comes to Italy with the assets it had abroad, under certain conditions, it can bring them back not on the basis of book values ​​but of current market ones. Combine this with a rate reduction to attract capital, I think it can be done,” he observes. But the government also aims to attract those who want to open new companies by buying goods in Italy. in this case, Leo points out, “in addition to reducing the rate, one can also think of a goodwill post to recognize an additional element over a certain period of time, even less than 18 years, which can then contribute to increasing the benefits to attract foreign capital”.

For its part theRevenue Agency it will give all the technical support the government needs to carry out the reform and simplify the jungle of a body of legislation made up of around 800-900 laws. “We had fun with the Deputy Economy Minister Leo to count, there are about 800 and 900 laws in force. Beyond participating in ‘Risk everything’ they are of little use for economic growth and make professional activity frustrating and unnerving “, said the Director of Revenue Ernesto Maria Ruffini for his part. “Putting the rules and consolidated texts in order is the most important part of the whole delegation“, he adds. And he concludes this reform “is not make-up, but substance”.



Source-www.adnkronos.com