Just been reading this on
Submitted by Badger on Sun, 12/04/2011 - 13:06In reply to A newbie all over again! by Annec
Just been reading this on Reuters news site. http://uk.reuters.com/article/2011/12/04/uk-italy-idUKTRE7B20HO20111204
- Log in to post comments
The re-introduction of ICI
Submitted by Gala Placidia on Sun, 12/04/2011 - 15:13In reply to A newbie all over again! by Annec
The re-introduction of ICI was to be expected. IMO, its abolition for "prima casa" was lunacy as it was an important (probably the most important one) source of revenue for local government. A wealth tax... seems to be a valid idea. What is another show of lunacy is to increase IVA as this will hurt pensioners and people on lower incomes. These people will have to further trim their expenditure and this is not good for the economy. Trimming government expenditure is going to be an absolute necessity; however, I am certain that both health and education are going to be the first ones to suffer... as usual.
- Log in to post comments
The new budget...
Submitted by sebastiano on Mon, 12/05/2011 - 03:28In reply to A newbie all over again! by Annec
yes, it will be very hard.The old I.C.I. tax will re appear as I.M.U. but this will be recalculated as much as + 60% on the basis of the new "estimi catastali" (the land registry calculation of value) and,it appears will be for ALL "first homes" including those previously exempt such as registered agricutural homes/properties.Whilst direct taxation is not supposed to increase the additional quota which is at the discretion of the single regions can increase from 0,9% to a max of 1.23% the regions can /may increase the cost of petrol/diesel with an extra cent per litre to fund public transport too.VAT will increase from 31/12/12 from 10%> 12% ( for the special low rate) and from 21>23% on everything else!that is high...as far as pensions are concerned it's going to end up more or less as a work till you die scenario! (i'll be 70 to go onto pension!)..
- Log in to post comments
CRY FOR ME ITALY
Submitted by Gala Placidia on Mon, 12/05/2011 - 04:28In reply to A newbie all over again! by Annec
The Italian Welfare Minister crying seems to be fully justified: http://tvnz.co.nz/world-news/italy-s-welfare-minister-cries-while-announcing-cuts-4590400
- Log in to post comments
Bringing back ICI or IMU as
Submitted by Andiamo on Mon, 12/05/2011 - 04:35In reply to A newbie all over again! by Annec
Bringing back ICI or IMU as it will become makes sense - to remove it seemed a bizarre decision, particularly as it was quite low anyway (especially compared to UK council tax) but enough to make a difference at local government level. To increase IVA makes no sense - it will hit people hard and 'encourage' the IVA avoidance days of old, even with the GdF tightening up on tax avoidance. There had to be a change to pensions - making people retire after 41 years of contributions made no sense especially when it applied to many who had left school at 14! Neighbours retired at 55!!!!!!!!!!!!!!!! Still fit and fully able to work but not worth it financially as they would not have been able to increase their overall pension! So all they did was work in the black and pay no taxes what so ever. Austerity measures have to happen but I just hope that those introduced do not hit the pensioners and less well off the hardest - wishfull thinking I fear.
- Log in to post comments
retirement after 41 yrs contributions
Submitted by rosietat on Tue, 12/06/2011 - 07:37In reply to Bringing back ICI or IMU as by Andiamo
I wonder how the "young people" of 25-30 who have not found jobs and live at home with parents will get their 41 years of contributions in!
- Log in to post comments
Sebastiano - I thought the
Submitted by Penny on Mon, 12/05/2011 - 05:41In reply to A newbie all over again! by Annec
Sebastiano - I thought the IMU on agricultural buildings and land was introduced by the Fiscal federalism bill and replaces the IRPEF on the 'reddito dominicale'. Or have I misunderstood?
- Log in to post comments
IMU
Submitted by sebastiano on Mon, 12/05/2011 - 10:56In reply to Sebastiano - I thought the by Penny
We'll have to wait for some of the" finer"details once they passed down thru the official gazzette( once it's passed parliament) down to the old commercialista..to find out exactly what and how much more they want for this...whatever it won't be easy..
- Log in to post comments
Little bit more on what is
Submitted by Badger on Mon, 12/05/2011 - 15:23In reply to A newbie all over again! by Annec
Little bit more on what is coming!! http://www.corriere.it/International/english/articoli/2011/12/05/tax-on-...
- Log in to post comments
1,000 euros
Submitted by sprostoni on Tue, 12/06/2011 - 23:31In reply to Little bit more on what is by Badger
Does anyone know what the 1,000 Euro cash transaction limit means ? S
- Log in to post comments
cash transactions
Submitted by sebastiano on Wed, 12/07/2011 - 02:52In reply to 1,000 euros by sprostoni
theoretically it's supposed to be simple,in other words any product or service purchased with a cost superior to E.1.000. should be paid electronically ie. bancomat/pos -credit card or bank transfer or non transferable cheque ( with the name of the company or receiver written in) avoiding that the "sale" can be occulted and not declared.
- Log in to post comments
cash limit
Submitted by Ram on Wed, 12/07/2011 - 02:53In reply to A newbie all over again! by Annec
Any bill or payment that is over 1000 euros must be paid by traceable means - ie bonifico, cheque, credit card etc- THis is 1000 including IVA so a thing that costs 850, must also be paid for by traceable means as it comes to over a grand when all totted up.
- Log in to post comments
We discussed this measure
Submitted by Gala Placidia on Wed, 12/07/2011 - 02:59In reply to A newbie all over again! by Annec
We discussed this measure earlier on, although we thought that the limit was going to be 2,500 euros.... Well, it will only be 1,000 http://www.italymag.co.uk/community/post/interesting-austerity-measure Obviously, they want to keep a tighter control than originally anticipated.
- Log in to post comments
calculate your new ICI
Submitted by Ram on Wed, 12/07/2011 - 11:31In reply to A newbie all over again! by Annec
using this clever widget from La Repubblica. http://www.repubblica.it/economia/2011/12/05/news/calcolatore_nuova_ici_imu-26132271/?ref=HRER1-1
- Log in to post comments
Hi Ram. Thank you very much
Submitted by getsett on Thu, 12/08/2011 - 13:49In reply to calculate your new ICI by Ram
Hi Ram. Thank you very much for this. Very helpful. When I worked it out just now it was a lot less than I expected. What I don't understand, and perhaps someone can enlighten me please, is why the Aliquota works out at 515 but then it says that for Prima Casa I will pay 315. If it was Seconda Casa then the amount to pay stays the same at 700 and something. I understand about the rendita catastale being revalued by 5%, then multiplied by the new rate of 160, then multiplied by 4 per 1000 (the new rate of 0.4%). That then gives the Aliquota. What then happens to reduce the rate to pay by 200 for Prima Casa? It also reduced another figure I randomly put in by 200!!
- Log in to post comments
Franchigia
Submitted by Fillide on Thu, 12/08/2011 - 19:47In reply to Hi Ram. Thank you very much by getsett
The €200 'deduction' for prima casa is termed a 'franchigia' - (a bit like an insurance 'excess' for which the same word is used) - but it means that prima casa enjoys a 'discount' of €200 (we think...) on the calculated value.
- Log in to post comments
Thanks Fillide. That is
Submitted by getsett on Fri, 12/09/2011 - 19:08In reply to Franchigia by Fillide
Thanks Fillide. That is pretty generous since the Prima Casa rate is discounted anyway.
- Log in to post comments
Changes
Submitted by Penny on Thu, 12/15/2011 - 07:56In reply to A newbie all over again! by Annec
It looks like the cash limit is going to be chnaged back to 1000 euro and not 500. Watch this space!
- Log in to post comments
cash limit
Submitted by Ram on Thu, 12/15/2011 - 12:51In reply to A newbie all over again! by Annec
The cash limit has always been 1000 - its the pension that was 500. Some people have said that their banks wont allow them to take out more than 1000 in a single go - they cannot do this. If they try threaten them with a lawyer or a denuncia. You may have to fill ina form saying why you want more than a 1000, and its up to the bank to notify the authorities if they suspect that you are using it for 'illegal' ends, but they cannot refuse you your money. The deduction on prima casa ICI is now 170 and not 200, but if you have kids under 26 living at home you get an extra 50 euro discount for each child.
- Log in to post comments
ICI calculator
Submitted by La Dolcevita on Thu, 12/15/2011 - 13:42In reply to A newbie all over again! by Annec
Just tried to work out our new ICI payment - can someone clarify what the following sentence means "Inserisci la rendita catastale dell'immobile" Is this the cadastrale value? Thanks
- Log in to post comments
You're right RAM. It was this
Submitted by Penny on Thu, 12/15/2011 - 16:29In reply to A newbie all over again! by Annec
You're right RAM. It was this statement on Il Sole 24 that confused me: Contante, si alza la soglia dei pagamenti per cassa (articolo 12). Passa da 500 a mille euro la soglia massima dei pagamenti per cassa e l'importo massimo degli emolumenti (stipendi, pensione, compensi comunque corrisposti dalla pubblica amministrazione centrale e locale e dai loro enti) che possono essere erogati in denaro contante e stabilendo che oltre tale limite gli emolumenti medesimi debbono essere pagati con strumenti diversi dal denaro contante. Dolcevita - It is the 'rendita catastale' from the visura for your property. If your husband will be resident and you won't then you will have to work out your individual 50% liability separately. You will have to pay 7,6 per 1000 and he will pay 4,6 per 1000.
- Log in to post comments
Maths and percentages have
Submitted by La Dolcevita on Thu, 12/15/2011 - 16:43In reply to A newbie all over again! by Annec
Maths and percentages have never been my forte!!!! I think I need a glass of wine
- Log in to post comments