The tax reform should be more oriented to self-employment

Corriere della Sera - L' Economia - 19 October 2020

The hypothesis of a tax reform that is particularly aimed at the relaunch of businesses and self-employed workers – which is the category that has been most penalized by the pandemic – is now being discussed again. 

«The latest big tax reform is dated 1971/73 – reminds Giuseppe Bernoni, who participated in that important for the time: since then, only emergency tax measures (new rules and taxes) have been introduced, just to deal with budget needs, and the only relevant change has been the creation of the tax register information system (Anagrafe tributaria). But now we are in real emergency and this is not the right time for a tax reform as it is being hypothesized». 

What are the priorities? «The pandemic and the digital revolution – states Bernoni Grant Thornton chairman – are already irrevocably transforming the world of work. To support employment, the regulations on tax advantages for businesses and self-employed workers should be extended, for example by introducing the total exemption for hiring or for those who re-invest profits in their own company.  

Investors would also require an effort to favour liquidity in the stock exchange and investment in Italian listed companies. Without this basis, we will never have a second Italian economic miracle». Therefore, the focus is now on businesses and on the tax burden that suffocates the world of self-employment.