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The state has already collected an additional 28 billion euros in taxes compared to last year

The state has already collected an additional 28 billion euros in taxes compared to last year

The CGIA in Mestre reports a 4.4% increase in revenues compared to last year, affected above all by the hidden tax called inflation: the Italian state has already collected an additional 28 billion euros (and Christmas is still missing).

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Inflation, increased employment, growth. These are the main factors that stand out Expanding state coffers Before Christmas. According to a report by Mestre CGIA research office, the Treasury raised money in the first 10 months of the year 28 billion euros more than in 2022. We're talking an impressive number: a 4.4% increase. 1.4 points more revenue than GDP which – among other things – seems destined to increase further in light of the Christmas period, also taking into account the tax deadlines in November and December. In short, several billion dollars will still enter state coffers.

The CGIA is keen to immediately remove any doubt: the massive increase in tax revenues Not because of increased taxes. Rather, it is the result of a combination of some distinctly cyclical aspects: the moderate economic growth that occurred in 2023; High inflation. increase in employment; Renewal of some employment contracts. Inflation greatly affects this process, and the reason is simple: the product costs more due to higher prices, but If you buy flour for one euro instead of 50 cents, the VAT rate also doubles Which goes to the state.

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However, regarding the tax increase factor, there is another important variable: last year the Meloni government allowed the excise duty reduction on fuel to expire, restoring – in effect – the full tax and cost increase of 25 cents per pump (although it was denied). He. She).

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Moreover, the research office also points out that with the tax on additional profits of banks imposed by decree last August, revenues of up to 2 billion euros were expected. But then Parliament amended the procedure, allowing banks, as an alternative to paying the tax, to allocate this amount as a non-distributable reserve, thus increasing their financial position. Needless to say, all Italian banks chose to put taxes aside and not pay them.

Finally, Italy's tax burden will fall to 42.5%, 0.2% lower than last year. According to European Commission data, only Denmark (48.1%), France (45.1%) and Belgium (43.6%) recorded a higher value in 2021. But the average for EU countries is 40.6%.