Italy Draft 2024-2026 budget Bill Approved by Council of Ministers

Italy's Ministry of the Economy and Finance has Announced the approval of the draft 2024-2026 budget bill by the Council of Ministers on 16 October 2023. Some of the main proposed measures of the budget include:

• 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;
• An increase in the tax-free threshold for income from employment to EUR 8,500;
• A further suspension …