Finally some good news. On Monday 6 June the Italians, obviously in a purely theoretical line, "finish" to pay taxes and social security contributions to the State and from Tuesday, therefore, the so-called tax freedom day starts. Compared to 2021, this year the most awaited "appointment" by Italians arrives a day earlier. After just over 5 months from the beginning of the year, practically after 157 working days including Saturdays and Sundays, the average taxpayer finishes working to pay all the tax payments of the year (Irpef, Imu, VAT, Tari, additional miscellaneous, IRAP, IRES, social security contributions, etc.) and from Tuesday 7 June he starts earning for himself.
Among the big players in the EU, only France pays more taxes
From the CGIA Studies Office they specify that the identification of the "tax release day" is nothing more than a purely theoretical exercise that serves to demonstrate, if there was still a need, the excessive tax burden that weighs on Italians. A problem that emerges to an equally evident extent even when we compare ourselves with our main competitors. In fact, among the most important countries in Europe, in 2021 only France recorded a higher tax burden than ours. If in Paris it was 47,2 per cent of GDP, in Berlin it was 42,5 per cent and in Madrid at 38,8 per cent. In Italy, on the other hand, the tax burden has reached a record threshold of 43,5 per cent. Among the 27 of the EU, Italy was in sixth place: Denmark (48,1 per cent), France (47,2 per cent), Belgium (44,9 per cent), preceded us. Austria (43,8 per cent) and Sweden (43,7 per cent). Last year the EU average “stopped” at 41,5 per cent, two points less than ours.
The method of calculating the tax freedom day
How did we come to identify June 7 as the “fiscal release day” of 2022? The estimate of the national GDP expected in 2022 has been divided over the 365 days of the year, thus obtaining an average daily figure. Subsequently, the revenue forecasts of social security contributions, taxes and fees that the income earners will pay this year were considered and were compared to daily GDP. The result of this operation made it possible to calculate the “tax freedom day” for the current year.
In 2021 we had the historical record of the tax burden
Observing the historical series, the "earliest" "day of fiscal release" was in 2005 (the Berlusconi II government remained in office until April 23 of that year. It was then replaced by the Berlusconi III government which concluded the 27th legislature on May 2006, 39). On that occasion, the tax burden stood at 23 per cent and Italian taxpayers only needed to reach 142 May (2021 working days) to leave all tax deadlines behind. Always observing the calendar, the most "late" one, as we said above, was recorded in 43,5, since the tax burden reached an all-time high of 8 percent and, consequently, the "tax release day" it started on June 6,5th. It is correct to point out that this record peak in the tax burden is not attributable to an increase in the levy imposed last year on households and businesses, but to the marked growth recorded by the national GDP (over 2020 per cent) which, after the fall vertical recorded in 9 (-XNUMX per cent), contributed to significantly increase revenue.
The June tax jam: 141 deadlines
If, after the school case elaborated by the CGIA Studies Office, we go back to dealing with the "bitter" reality, this year June is again characterized by a real tax jam. From reading the agenda reported on the Revenue Agency website, we see that this month Italian taxpayers will have to fulfill 141 tax deadlines (Payments, declarations, communications, requests / questions / requests, accounting obligations, etc.); of these, as many as 122 (equal to 86,5 per cent of the total) will force Italians to put their hands on their wallet. A fiscal calendar to shake your wrists, which once again raises a big problem: in Italy we not only suffer an excessive tax levy, but also the methods of paying taxes cause a bureaucratic cost that is unmatched in the rest of Europe.
In 2022 the state will collect almost 40 billion more
In 2022, on the other hand, the tax burden, although economic growth should be around 2,5 per cent, is set to decrease by 0,4 percentage points. This will also happen thanks to the reduction in taxes and contributions decided by the Draghi government. The main measures approved last year are:
- IRPEF reform (-6,8 billion euros of resources);
- contribution exemption of 0,8 percentage points to employees with a gross monthly salary of less than € 2.692 (-1,1 billion euros) - measure in force only for the year 2022;
- exemption from IRAP payment to individuals (-1 billion euro);
If we take into account the slight improvement underway in the main economic variables that is reflected in the revenue trend, according to the Ministry of Economy and Finance in 2022 the State should collect almost 40 billion more in taxes and contributions than in 2021. We point out that part of this increase in revenue is certainly also attributable to the sharp rise in inflation which, according to forecasts, should oscillate between 6 and 7 per cent this year. Therefore, at a time when households are suffering frightening increases that risk collapsing domestic consumption, it would be desirable for the government to return part of this extra revenue with fiscal drag mechanisms (a phenomenon that occurs when inflation generates a increase in the tax burden, even at the same rates, in the following way: Let's assume that in addition to prices, incomes also increase, but that this growth only compensates for inflation, thus keeping real income unchanged. monetary income should be such as to bring the taxpayer into an income bracket burdened by a higher rate, this would end up paying more taxes on a real income equal to the previous one.). A measure that would strengthen the purchasing power of pensioners and employees, giving significant relief especially to those who currently find themselves in serious economic difficulties.