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Tax

The complexities of the Italian tax system

Giuseppe Bernoni Giuseppe Bernoni

Interview to Giuseppe Bernoni and Enrico Zanetti

Giuseppe Bernoni has recently been interviewed by Corriere della Sera (a major Italian newspaper) together with Enrico Zanetti, former Undersecretary for economic affairs, on the continuous changes in tax regulations and the need of more stability.

 

Ever new fulfilments and constantly changing regulations: not only a lighter tax burden, more legislative stability is also needed.

A friendlier tax system and regulatory simplifications remain hot topics, but meanwhile new quarterly fulfilments (i.e. communication of operations relevant for VAT purposes, the so-called "spesometro") have been introduced and the deadlines timesheet remains very tight. New regulations constantly supersede those in force introduced by the previous government, thus increasing uncertainty. “The real problem as for tax regulation - declares Giuseppe Bernoni - is that there is always an emergency situation."

"There have been positive changes over the years, but significant simplifications remains very difficult to attain. Almost impossible, as long as new governments will continue to enforce norms that nullify previous simplifications." The solution? "A consolidated text drafted together with experts and specialists not to be changed every other month, but to last over time. A solution that would encourage foreign entrepreneurs to invest in Italy. Of course, if norms change every minute, simplifications and companies’ plans are made vain".

Chartered accountants claim their role not only as tax specialists, but rather as business consultants. “Chartered accountants can surely help SMEs - agrees Giuseppe Bernoni - as nowadays there is a high request of specialisation. We can help not only when tax benefits or super depreciation rated are concerned, but also with regard to much more complex issues”.