The government of Italian Prime Minister Giorgia Meloni approved last Tuesday (15) the project of Budget Law for 2025, which foresees interventions of around 30 billion euros over the course of the next year.
Among the main new features is a benefit of 1000 euros (R$ 6,1 thousand) for parents of newborns with an Equivalent Economic Situation Indicator (ISEE) of up to 40 thousand euros per year (R$ 246,4).
Additionally, larger families will have more room for tax deductions.
The ISEE is an instrument that assesses the financial situation of Italians, taking into account income, assets and characteristics of the family unit. The amount that will be made available in a lump sum is intended to cover the first expenses of each baby.
With the goal of raising more resources for the budget, the project foresees that the Ministries will cut 5% of their expenses, with the exception of Health funds, which will increase.
“As we promised, there will be no new taxes for citizens. 3,5 billion euros from banks and insurance companies will be allocated to healthcare and the most vulnerable to ensure better services that are closer to everyone’s needs,” Meloni said.
The text also confirms cuts to the tax wedge, which is a calculation that measures the tax cost of labor, and to three levels of income tax for individuals (Irpef). The measures will generate around 14 billion euros for next year's Budget Law.
Still on the subject, among the measures that are taken for granted is the extension of tax exemption for working mothers who have two or three children.
The project will also encourage the employment of young people and women, particularly in southern Italy. Those who are hired and agree to live in a location more than 100 kilometers away from their current residence will receive additional benefits.
Finally, the renovation bonus, which deducts 50% of IRPEF for extraordinary restoration and maintenance work on the first residence of Italians, will be extended to 2025, preventing the tax reduction from falling to 36% as of January. (HANDLE)
