Italy to set single tax bracket for low incomes in 2020: papers
Reuters
Published Oct 18, 2019 01:59AM ET
Italy to set single tax bracket for low incomes in 2020: papers
ROME (Reuters) - Italy's government will set a single tax bracket for lower incomes, in a reform to be approved next year, Prime Minister Giuseppe Conte was quoted as saying by two newspapers on Friday.
The ruling coalition is already working on the new scheme, which would merge the current thresholds of 23% and 27% into a single one of 20%, for those earning up to 28,000 euros yearly, dailies La Repubblica and La Stampa quoted Conte as saying.
"We are working like crazy. There is a task force working on projections for the reform of the IRPEF (income) tax. We cannot approve it this year, as there are only few weeks left," Conte was quoted as saying in la Repubblica.
On Wednesday the cabinet approved a draft 2020 budget that cuts taxes for middle-income earners and aims to crack down on tax evasion, keeping the deficit at the same level as this year.
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Written By: Reuters
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