Govt working on Tobin tax, private-pension boost

(ANSA) - ROME, MAY 20 - Premier Giorgia Meloni's government is working on revising the Tobin tax on financial transactions and raising the threshold up to which income paid into private-pension plans is tax deductible in order to encourage people to take them up instead of relying solely on their State pensions, sources said Saturday.
    The government is also set to scrap the superbollo auto tax on particularly powerful cars in a bill linked to its tax reforms that is expected to be presented on Friday.
    The administration is also examining a possible reduction in the IRES business tax and a lowering of the tax payable in advance by the self employed.
    Meloni's government is aiming to bring in a flat tax for all workers in Italy by the end of the current parliamentary term, in less than five years' time, as part of its tax-reform plans.
    At the moment, Italy has a 15% flat tax, but it only applies to self-employed people earning up to 85,000 euros a year at the moment.
    The reform said a step towards a flat tax for all will be the reduction of the number of income-tax bands applied to people employed by private-sector firms and the State from four to three.
    The reform also seeks to significantly cut down the number of taxes in force in Italy. (ANSA).