iMU and IVA, POSSIBLE FUTURE

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iMU and IVA, POSSIBLE FUTURE

Post by Gala Placidia on Mon Jun 10, 2013 9:45 pm

This morning, I watched a panel discussion on Italian TV regarding the IMU reform that should be taking place in the next 5 years. The general idea is to return to the concept of IMU as a local tax that should provide adequate finance to Local Government without the Central Government getting a big share of it. Also, the Catasto is going to be updated to more realistic levels and this should end discrepancies between new and old properties.Every property owner, whether prima casa or secondary residency will be paying IMU. Certainly, prima casa will get concessions, particularly in the case of low income families and pensioners. They made a calculation that, a family with 2 school aged children with an income of some 15000€ should be paying about 150€as IMU.
On the other hand, I heard a politician the other day, saying that increasing IVA by 1% will be disastrous for the economy in general and that it would be better to look at other ways of raising government revenue. I could not agree more, by increasing the IVA, people will refrain from buying and this will only cause further unemployment and business losses. It is a matter of common sense... the least common of all senses... it seems. confused
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Gala Placidia
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