The IRPEF reform: what's new in the 2022 Budget Law

Among these, one of the main ones concerns the intervention on the Personal Income Tax IRPEF

1. the decrease from five to four of the branches
2. the lowering of the rates

   In reference to the structure of tax2021

   From now on the brackets and rates will apply instead following:

   STANDINGS	RATE	TAX DUE
   Up to €15,000	23%	23% of income
   € 15,001 – €28,000	27% (2	€3450 (23% * 15,000)  + 27% on income exceeding €15,000
   €28,001 - €55,000 (1	38% (2	€6960 (3450 + 27% * 28,000 -15,001)  + 38% on income exceeding €28,000
   €55,001 - € 75,000	41%	€17,220 (6960 + 38% * 55,000 – 28,000)  +41% on income exceeding €55,000
   Over € 75,000	43%	€25,420 (17,220 + 41% * 75,000 – 55,001) + 43% on income exceeding €75,000

   Part of the IRPEF changes also concerns the amount of deductions and their field of operation: in in particular, today there has been an increase in deductions on income from self-employed pensionemployeesadditional deductions

   The following is the provisions for each income category:

   STAGES	RATE
   Up to €15,000	23%
   €15,001 – €28,000	25% (2
   €28,001 - €50,000 (1	35% (2
   Over €50,000	43%

   INCOME FROM EMPLOYEE
   Income	Amount deduction
   Up to €15,000	1,880 (not less than 690, 1,380 if for a fixed term)
   €15,001 - €28,000	1,910 + 1,190 * [(28,000 – income) /13,000]
   €28,001 - €50,000	1,910 * (50,000 – income) / (50,000 - 28,000)
   Over €50,000	Not expected

   PENSION INCOME
   Income	Deduction amount
   Up to €8,500	1,955 not less than €713)
   € 8,501 - €28,000	700 + (1,955 – 700) * [(28,000 – income) / (28,000- 8,500)]
   €28,001 - €50,000	700 * [(50,000 – income) / (50,000 – 28,000)]
   Over €50,000	Not foreseen

   Due to the change in the structure of the brackets, starting from 1 January 2022, the deductions will be applicable to incomes up to €50,000

   In addition, further deductions are expected to avoid losses in the change of the rules regarding IRPEF:

   • income from employment
   • income from pension
   • income from self-employment

     Furthermore, natural persons with an income below the threshold of €15,000 will still be granted the supplementary treatment of €1,200. For those who exceed the threshold of €15,000, but not that of €28,000, a supplementary treatment of a maximum of €1,200 will be recognized provided that the sum of the other envisaged deductions (family expenses, income from work, interest expense on mortgages, renovation and energy requalification expenses).

     The taxpayers who will benefit most following the entry into force of the Reform will be employees with incomes of €40,000self-employedpensioners with incomes of €50,000

     In conclusion, it can be stated that the aim of the new structure and the entire IRPEF reform was, in the intentions of the Legislator, to make the growth of the progressivity curve more harmonious

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   INCOME SIMILAR TO THOSE FROM EMPLOYEES AND OTHERS INCOME
   Income	Deduction amount
   Up to €5,500	1,265
   €5,501 - €28,000	500 + (1,265 - 500) * [(28,000 – income) / (28,000- 5,500)]
   €28,001 - €50,000	500 * [(50,000 – income) / (50,000 – 28,000)]
   Above €50,000	Not expected