Italian Budget Law for 2024 Includes Support for Individuals and Various Other Measures

Italy has published Law No. 213 of 30 December 2023 on the State Budget for 2024 and the multi-year budget for 2024-2026. Several of the tax measures are meant to support individuals, including:

• A reduction in the number of personal income tax brackets from 4 to 3, with the first and second brackets merged into a single bracket with a 23% tax rate on income up to EUR 28,000 (upper brackets/rates maintained);
• An increase in the tax-free threshold for income from employment to EUR 8,500;
• A re…