Reforming Capital Taxation In Italy
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Author | : Luc Eyraud |
Publisher | : International Monetary Fund |
Total Pages | : 25 |
Release | : 2014-01-16 |
Genre | : Business & Economics |
ISBN | : 1484370724 |
Download Reforming Capital Taxation in Italy Book in PDF, Epub and Kindle
This paper reviews capital taxation issues in Italy based on a comprehensive definition encompassing taxes on income, transactions, and ownership. It discusses options to enhance the neutrality of the capital income tax system, followed by a detailed analysis of the property tax, the inheritance tax, and various transaction taxes. The paper also examines the case for replacing the set of existing taxes on financial and real assets with a single net wealth tax.
Author | : Justin Tyson |
Publisher | : |
Total Pages | : 26 |
Release | : 2014 |
Genre | : |
ISBN | : |
Download Reforming Capital Taxation in Italy Book in PDF, Epub and Kindle
This paper reviews capital taxation issues in Italy based on a comprehensive definition encompassing taxes on income, transactions, and ownership. It discusses options to enhance the neutrality of the capital income tax system, followed by a detailed analysis of the property tax, the inheritance tax, and various transaction taxes. The paper also examines the case for replacing the set of existing taxes on financial and real assets with a single net wealth tax.
Author | : Giampaolo Arachi |
Publisher | : |
Total Pages | : 0 |
Release | : 2004 |
Genre | : |
ISBN | : |
Download Some Remarks on the Proposal to Reform Capital Income Taxation in Italy Book in PDF, Epub and Kindle
The Italian government has recently issued a bill for reforming capital income taxation both at personal and corporate level. This short note evaluates some of the main innovations contained in the government's proposal. As to personal taxation, the reform maintains the demise of accruals taxation and the implementation of a flat rate tax at 12.5% on both capital income and realised capital gains. As to corporate taxation, the government aims at abolishing both Irap and the so-called "Dit", and at reducing the statutory tax rate down to 33%. The note illustrates the reasons for disposing of accruals taxation as well as the drawbacks of a flat rate tax on the sum of capital income and realised capital gains and losses. Further, the note compares the average effective tax rate on corporate income both pre- and post-reform. It turns out that in its first stage the reform will slightly increase the tax burden on corporate income. The note ends with a discussion of the effect of tax competition on the future prospects of the Italian tax system.
Author | : Henry Coit MacLean |
Publisher | : |
Total Pages | : 26 |
Release | : 1924 |
Genre | : Taxation |
ISBN | : |
Download Italian Tax Reforms Book in PDF, Epub and Kindle
Author | : Emile Cammeraat |
Publisher | : International Monetary Fund |
Total Pages | : 38 |
Release | : 2020-02-21 |
Genre | : Business & Economics |
ISBN | : 1513529226 |
Download Toward a Comprehensive Tax Reform for Italy Book in PDF, Epub and Kindle
This paper evaluates elements of a comprehensive reform of the Italian tax system. Reform options are guided by the principles of reducing complexity, broadening the tax base, and lowering marginal tax rates, especially the tax burden on labor income. The revenue and distributional implications of personal income and property tax reforms are assessed with EUROMOD, while a microsimulation model is developed to evaluate VAT reform options. Simulations suggest that a substantial reduction in the tax burden on labor income can be obtained with a revenue-neutral base-broadening reform that streamlines tax expenditures and updates the property valuation system. In addition, a comprehensive reform would benefit low- and middle-income households the most, by lowering significantly their overall current tax liability, which results in increased progressivity of the tax system.
Author | : Michal Andrle |
Publisher | : International Monetary Fund |
Total Pages | : 38 |
Release | : 2018-03-16 |
Genre | : Business & Economics |
ISBN | : 1484348044 |
Download Italy: Toward a Growth-Friendly Fiscal Reform Book in PDF, Epub and Kindle
Published in late 2017, the Italian medium-term fiscal plan aims to achieve structural balance by 2020, although concrete, high-quality measures to meet the target are yet to be specified. This paper seeks to contribute to the discussion by (i) assessing spending patterns to identify areas for savings; (ii) evaluating the pension system; (iii) analyzing the scope for revenue rebalancing; and (iv) putting forward a package of spending cuts and tax rebalancing that is growth friendly and inclusive, could have limited near-term output costs, and would achieve a notable reduction in public debt over the medium term. Such a package could help the authorities balance the need to bring down public debt and, thus, reduce vulnerabilities while supporting the economic recovery.
Author | : Justin Tyson |
Publisher | : International Monetary Fund |
Total Pages | : 16 |
Release | : 2014-01-16 |
Genre | : Business & Economics |
ISBN | : 1484370775 |
Download Reforming Tax Expenditures in Italy Book in PDF, Epub and Kindle
The IMF has advised country authorities to roll back tax expenditures as a way to support fiscal consolidation efforts—urging them to evaluate tax expenditures according to clear criteria, and assessing their impact on public finances, economic efficiency, equity, and administrative and compliance costs. This paper analyzes tax expenditures in Italy, considering the extent to which tax expenditures can be considered part of an optimal tax system and possible reforms.
Author | : Massimo Bordignon |
Publisher | : |
Total Pages | : 29 |
Release | : 2000 |
Genre | : |
ISBN | : |
Download Reforming Business Taxation: Lessons from Italy? Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1998 |
Genre | : |
ISBN | : |
Download Italy to Reform Capital Gains Tax Regime Book in PDF, Epub and Kindle
Tax implications for the capital markets and the repo and securities lending markets.
Author | : Alessandra Staderini |
Publisher | : |
Total Pages | : 40 |
Release | : 2001 |
Genre | : Corporations |
ISBN | : |
Download Tax Reforms to Influence Corporate Financial Policy Book in PDF, Epub and Kindle