The interview

Taxation, Leo: 'No new super bonus effect on accounts. Now the bonus IRES must be put in place".

The deputy minister: we are working to also cut Irpef for the middle class, it can boost consumption and the production system

3' min read

3' min read

Born last December on Christmas Eve, playing ahead of the implementation of the tax reform, the Ires bonus becomes, after almost eight months, operational. For Deputy Minister Maurizio Leo, who yesterday signed the implementing decree of the Budget Law, it is, however, a time 'that we can define as physiological' and dictated above all by 'the work of analysis carried out by the technicians of the Department of Finance and the State General Accounting Office in verifying the compatibility of the IRES relief with the other forms of incentives recognised to companies and above all with the available resources'.

A lot of criticism has also recently come from insiders about the timing of implementation. How do you respond?

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Careful work has been done, trying to regulate even situations that are not simple. I am referring in particular to the cases of extraordinary operations (mergers, demergers or incorporations) or companies that have opted for the consolidated regime. The objective pursued was not to leave anyone out of benefit who met the requirements. In short, we went to meet the needs of companies.

How? .

The implementing decree is the result of a long and constant dialogue with the production world and handles all the complex cases useful for calculating and granting the facilitation, meeting the needs of businesses. Longer timeframes are granted for the interconnection of capital goods, and the possibility is given to use past losses or to be able to distribute dividends to shareholders for previous periods.

Was the cap on the bonus included in the implementation decree really necessary?

The possibility was given to cumulate the 4 percentage point reduction with the 4.0 and 5.0 transition facilities. But we had to provide a limit within the available financial resources. Not only that. The real risk to be averted is that of not creating a new snowball effect on public accounts like the one generated by the Superbonus.

In all his statements he recommends prudence on public accounts. Isn't this holding back the implementation of the enabling act?

No. We are moving, as the Minister for the Economy Giancarlo Giorgetti has always demanded, within the public finance balances and the spending trajectory agreed with the European Commission and indicated in the budget planning document. This is also why we are very attentive to interventions in the fiscal field, but without abandoning our objectives.

With regard to targets, is there not a risk that a measure, such as the premium IRES, which is only valid for one year, will be unattractive?

I reiterate my commitment to make the bonus IRES structural, if resources allow us to do so. This is a chapter that we will open in view of the next budget manoeuvre in the autumn. Since taking office, this Government has set a clear and precise course: to reward those who bet on productivity and growth. With this measure we are giving concrete implementation to a simple and clear principle: the more you hire and invest, the less you pay.

In many quarters, even in the majority, there are calls for action to reduce the tax burden. What is on the table?

Action is needed to reduce the Irpef on the middle class. This is also a government commitment. But it is not possible to depart from the line of rigour. Once the resources are identified, we will try to take this step. We are well aware that reducing taxes on workers could turn into a push to increase domestic consumption and further help companies, which are now also faced with the issue of tariffs.

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