Room to shift Italy's tax burden to wealth and inheritance says EC
The European Commission has suggested that Italy could benefit from shifting its tax burden from payroll taxes to wealth and inheritance taxes. This change could create a fairer and more growth-friendly tax system while also addressing tax evasion. The Commission's staff document highlights the potential for utilizing currently underused tax bases.
- ▪The European Commission proposed a shift in Italy's tax burden.
- ▪This shift would move taxes from payroll to wealth and inheritance.
- ▪The Commission emphasizes the need for a fairer tax system and reduction of tax evasion.
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The European Commission said Wednesday there is room to shift some of Italy's relatively high tax burden from payroll taxes to wealth and inheritance. "Italy would benefit from a fairer and more growth-friendly tax system, as well as from further efforts to reduce tax evasion. "There is scope to shift part of the relatively high tax burden on labor to other currently underutilized tax bases, including wealth and inheritance," said the EU Commission staff working document accompanying the European Semester documents.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at ANSA English.
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