– The day after the debate between EU and Renzi on property taxation, the Bank of Italy intervenes: “Italy is in line with the EU average” said Deputy Director General Luigi Federico Signorini. “The main residence are subject to taxation in all major markets, particularly in France, Germany, UK and Spain. The recurrent taxes on real estate amounted to 1.5% of GDP,” he said.
“tax profits to fund local authorities” – The property taxes, he added, “are in almost all cases the sole (or most) of the relevant local governments.” “Decisions on taxes have broader implications and responsibilities of Parliament” assess any change requests, Signorini said, referring to the intention of the government to cut taxes on first homes. But, he added, it is impossible not to note that “to some extent” the exemption first house “weakens an important element of fiscal federalism”.
“The economic literature – said the deputy director of the Bank of Italy – He sees the withdrawal estate on the first house as optimal from the point of view of the financing of local authorities. It can also have significant effects on the distribution plan: the exemption of the first house, for example, would result in a tax saving increases with the cadastral income of ‘ home “.
” We must eliminate the inequities “ -” The misalignment between tax bases and market values generates phenomena of iniquity, whether vertical or horizontal, which may be removed with the updating of the register, the call to move quickly in this direction has been repeatedly reaffirmed by the European institutions, most recently in recommendations addressed to Italy last July under the European Semester. A simulation conducted on the families of the Survey of the Bank of Italy shows that the revaluation of land rents may make available resources to be used, with the same revenue, for restoring a system of deductions similar to that applied in 2012; it follows, as shown by studies of the Bank of Italy, a higher level of progressivity is applied to the IMU in 2012 is that of Tasi in 2014 “.
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