Flat tax on Paperoni, contributions for Scampia, tax extensions. Cdm green light for Omnibus decree

A doubling of the flat tax for Paperoni who take up tax residence in Italy. A contribution of up to 1,100 euro for the evacuees of the Vele di Scampia. New tax and justice extensions. But also new resources for the emergency fund and the extension of insurance protection for students and teachers. These are some of the novelties of the Omnibus decree approved at the last Council of Ministers before the summer break.

"As far as the taxation of banks is concerned, I have seen this whole debate, Maurizio Leo and I have also commented to some extent on how this news comes out of nowhere. Certainly banks, like other profit-making entities, will be asked to contribute to public finance: I think there is nothing strange about that. But there will be no taxes on extra-profits. Taxes on profits, however, yes, for them as for others'. Thus the Minister of the Economy, Giancarlo Giorgetti, at a press conference at Palazzo Chigi at the end of the Council of Ministers

"The Cdm approved the regulations for the tax credit. We have inserted 1.6 billion that doubles the tax credit fund to 3.2 billion'. This was said by the Minister for European Affairs, Cohesion Policies, and the NRP, Raffaele Fitto, at a press conference at the end of the Council of Ministers, describing the amount of the allocation as 'far higher'. "We have to complete the verification phase of the applications," Fitto specified. "The mechanism put in place today not only guarantees financial coverage but also creates the conditions to give a structural response. This I think is a clear way to avoid controversy,' the minister concluded.

In the 25 articles of one of the drafts circulated on the eve of the event, there is first of all the increase, from 100 thousand to 200 thousand euros per year, of the substitute tax on income produced abroad by individuals who transfer their tax residence to Italy. The measure was introduced in 2017 to attract those with large assets to Italy and provides for the possibility of extending the flat-rate regime to family members as well, with a substitute tax of €25,000 per year. "To date there are 1,186" individuals have joined the measure but "how much they have reinvested in Italy is very difficult to assess," Giorgetti said. "The decision to make this adjustment, which in any case remains interesting, goes in the direction of what I have said in the international arena, we are against inaugurating a season of competition and competition for situations of tax favour to people and companies, because countries like Italy are destined to lose."

For families displaced after the collapse of one of the Vele in Scampia, instead, a contribution of up to 1,100 euro per month is arriving. The Municipality of Naples will be able to disburse the sums (from a minimum of EUR 400 to a maximum of EUR 900, depending on the size of the family number, with an additional EUR 200 if there are over 65s or disabled persons with a disability rating of over 67%) until 31 December 2025, provided that the housing need has not been temporarily met free of charge by a public administration.