The law of balance, lights and shadows.

successful completion of studies of the sector, the scrapping of the roles, the abolition of Equitalia and the new tax on the income of the entrepreneur are the main news on the tax law of fiscal 2017. Among the interventions that can be shared and others that will lead to falling tax revenue, remain open questions.

Silvia Giannini and Alessandro Santoro (source: lavoce.info)

area Studies

we Analyze below some of the first advances on the main news on the tax front that will accompany the budget: the overcoming of the sector studies, the scrapping of the roles, andthe abolition of Equitalia, tax on the income of the entrepreneur (Iri).

the successful completion of The field studies should allow us to eliminate the possibility, however, now only theoretical, of a tax audit based solely on the difference between the revenues declared and those reconstructed statistically. The studies should be replaced by new indicators of compliance with the rules communicated to the taxpayer via the drawer tax and synthesized, through the appropriate "smilies". The taxpayer should be pushed to change their behaviour until they get a "smiley" that indicates the satisfaction of the financial administration.

beyond The aesthetic aspects, and communication (which is important), you will need to check whether the new indicators will use not only the statistical, but also the information that the administration has already obtained about and from the individual taxpayer, with the private costs and administrative irrelevant (think the spesometro and e-invoicing). The operation will also be essential for the effective action of incentive to the requirement that, in the absence of the specter of the investigation will be entrusted to the ability of the new indicators to be understandable and convincing to the eyes of the taxpayer.

Equitalia and the scrapping of the role

The abolition of Equitalia, was announced at the same time to the so-called end-of-roles and the package is expected to generate an increase of revenue of 4 billion. In the absence of the necessary details, you can only make the assumptions. It is plausible that the function of tax collection to be absorbed within the Agency’s revenue, according to the model in force in many european countries, but with the not insignificant problems of a legal and organisational context of Italian. For example, the recruitment procedures and the treatment contract currently in force for the Equitalia are very different from those of the Agency revenue. Do fall in the scope of the public administration employees not hired through a competitive process, in particular, could be incompatible with article 97 of the Constitution.

On the other hand, it is not even clear how they have been quantified the effects ofthe abolition of interest and sanctions related to the roles entrusted to Equitalia, which is the so-called destruction of the roles. Waiting for the technical report, it is conceivable that the 4 billion is a higher yield in the short term, i.e. for 2017, which is calculated by imagining that the most taxpayers to pay taxes due and that the increased performance more than offset the abatement of interest and penalties.

Even if this were so, however, would be difficult to prevent the fall of the proceeds from in the medium term, which is a consequence of empirically verified of all the measures of this type, which tend to reduce the obligations, and spontaneous and encourage the evasion, unless you predict a strengthening of the powers of recovery, and today too weakened, as noted by the Oecd and the Imf.

Iri:

another important novelty is the new Iri: the tax on the income of the entrepreneur. Study time and also provided by thelaw delegating tax" (no. 23/2014), the Iri will give the opportunity to the company of people and individual businesses (but only if in the ordinary accounting) to pay on the profits retained in the company the same income tax rate that applies to capital companies, instead of the personal income Tax. The personal income Tax rates ranging from 23 to 43 percent, plus the additional regional and municipal authorities; the corporate income tax has a rate constant, which will drop from 27.5% to 24% starting from the year 2017.

If you do not distribute the profits to the shareholders, a corporation is today the upper hand (pay less taxes, and can therefore re-invest more, to equal gross profit) with respect to a partnership, or a sole proprietorship, that have incomes just above the first bracket of the personal income Tax (15 thousand euros). The new Iri abolishes this unjustifiable discrimination, allowing the company to people and companies individual a higher self-financing capacity. The reform aims at shareable, and is become the more necessary as a result of the reduction of the Ires rate. The latter would have already had to take last year, but an amendment to the bill of stability 2016 it postponed the entry into force of the 2017.

In summary, the main content of the announced tax decree show light and shadow and still there are many open issues. Will have to wait for the text of the decree, and the technical report, for additional, specific insights and an overall assessment.