In the months of January-March 2022, the tax revenues ascertained on the basis of the criterion of legal competence amounted to 113.402 million euros, an increase of 13.621 million euros compared to the same period of the previous year (+ 13,7%). The significant increase recorded in the quarter is influenced both by the carry-over of the positive effects on revenues which were determined starting from 2021, and by the effects of Legislative Decree no. 34/2020 (so-called "Relaunch decree") and of Legislative Decree no. 104/2020 (the so-called "August decree"), which had arranged, in 2020, the extensions of the suspension of payments and subsequently, in 2021, the resumption of the same, allowing taxpayers to pay them in installments. The payment in installments may determine revenue effects also in the next months of 2022.
In March, tax revenues amounted to 34.366 million euros (+2.245 million euros, + 7,0%). In particular, direct taxes recorded a decrease in revenue of € 414 million (-2,7%) and indirect taxes recorded a positive trend of € 2.659 million (+ 15,7%).
DIRECT TAXES
In the first quarter of 2022, direct taxes amounted to 63.151 million euros, with an increase of 5.065 million euros (+ 8,7%).
The income from IRPEF amounted to 53.526 million euros with an increase of 2.031 million euros (+ 3,9%): all the revenue items referring to the tax showed positive trends. In particular, withholding taxes on the income of employees in the private sector recorded an increase of € 1.286 million (+ 5,5%), withholdings on the income of public sector employees an increase of € 37 million (+0,2, 255%) and self-employed withholdings of 8,3 million euros (+ 1.344%). Significant increases in revenue were recorded for the substitute tax on income from capital and capital gains (+180,2 million euros, + 2021%) due to the favorable trend of the asset management market in 1.039. Also the tax on the asset value of pension funds recorded an increase (+103,0 million euros, + 2021%) attributable to the positive trend of the positions in the supplementary pension schemes at the end of 2020, compared to XNUMX, and to the yields.
Finally, we note the increase in IRES (+51 million euros, + 5,0%) and in withholding taxes on profits distributed by legal entities (+187 million euros, + 37,9%); the substitute tax on income as well as withholding taxes on interest and other capital income, on the other hand, had a decrease in revenue of 203 million (-9,9%).
INDIRECT TAXES
Indirect taxes amounted to 50.251 million euros, with an increase of 8.556 million euros (+ 20,5%). VAT contributed to the positive trend, with an increase in revenue of € 6.086 million (+ 22,8%), in particular the component relating to internal trade showed an increase of € 4.280 million (+18,2 %), while VAT on imports recorded an increase of € 1.806 million (+ 57,8%). The latter result is largely linked to the trend in the price of oil which in January 2022 was up.
Among other indirect taxes, revenue from insurance tax (+ € 11 million, + 3,2%) and registration tax (+ € 108 million, + 9,1%) recorded positive trends, while stamp duty had a negative change (-64 million euros, -6,3%).
ENTER FROM GAMES
Gaming-related revenues amounted to 3.644 million euros (+1.007 million euros, + 38,2%).
REVENUE FROM ASSESSMENT AND CONTROL
Tax revenues deriving from tax assessment and control activities amounted to 3.285 million euros (+1.502 million euros, + 84,3%) of which: 2.067 million euros (+1.238 million euros, + 149,2%) ) came from direct taxes and 1.217 million euros (+264 million euros, + 27,7%) from indirect taxes. The comparison with the same period last year is not homogeneous as in 2021 the collection activities were suspended until 31 August 2021 (Law Decree no. 73/2021, so-called “support decree-bis”).
The Tax Revenue Bulletin for the period January-March 2022 is available on the website of the Department of Finance, together with the statistical appendices and the related Technical Note which summarizes the main contents of the document.