Saturday, May 23, 2015

Iva, the rejection of the EU is likely to increase excise taxes on … – Reuters

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Iva, the rejection of the EU is likely to increase excise taxes on gasoline

In the public accounts you open a new hole from 700 million euro to the not the EU to “reverse charge” in supermarkets

A new grain for Pier Carlo Padoan Minister of Economy

It is not yet closed the front of the pension, and that is that it opens a new one with the rejection by the European Commission’s fiscal policy “reverse charge” for VAT in supermarkets. Bad news for the government, for without recourse to this mechanism of payment of indirect taxes designed to reduce tax avoidance and tax evasion immediately opens a hole in the state coffers 700 million for 2015. That, of course, It adds to greater expense due to (partial) refund of the equalization of pensions.

In terms of the security climate is really hot. In an interview with Republic Economy Minister Pier Carlo Padoan shoots to zero against the Constitutional Court, guilty of failing to consider the impact on public finances of the judgment. “I do not know who would have to quantify the cost – Padoan attacks – but in a dialogue of cooperation between State organs independent – as a government, court, ministers and Attorney would have been appropriate maximum information sharing. If there are decisions that have an implication for public finances, there must be an impact assessment. Also because it serves to form a judgment on the principles of equity. This has been lacking and I hope – concluded the Minister – that in future the interaction is more fruitful. ”

Words institutionally heavy, of the emergence of the opposition: Renato Brunetta (Fi) defines the “subversive”, the M5S speaks of “blasphemy institutional”, while the CGIL secretary Susanna Camusso said that the Consultation ” It is not an office of the Ministry of Economy and Finance. ” A barrage that forced Matteo Renzi, from Riga, to fine tune the message: “We work with the utmost respect and institutional link, we respected the ruling of the Constitutional Court.”

In the meantime, though, here’s a new grain – 700 million euro – for the Italian accounts. The European Commission says it no extension of the mechanism of reverse charge to large retailers. The last word is up to the Council, but it is certain that the second criterion adopted purple Brussels Directive on VAT. For “there is sufficient evidence that the measure requested will help to combat fraud”; You can move to fraud ‘in retail or in other states “; and “it should not be used systematically to mask inadequate supervision of the tax authorities of a State.” It must be said that a few weeks Italy was already aware of this orientation.

Formally the waiver of this tax measure (much opposed by the industry of large retailers, which had submitted the appeal to the European Union) would have the immediate consequence of a shooting in automatic safeguard clause increases the excise tax on gasoline and diesel fuel as of July 1. But the Treasury reassure that “there is a firm commitment of the government” to avoid inflation. However there is a risk that another element of the anti-avoidance maneuver planned last Stability Law can jump: This is the mechanism of the split payment, designed to avoid the “carousel fraud “cash on VAT and 900 million in 2015. For now it is still under review, and we hope that everything goes well.

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