Home Economy Fighting Cash, “Restrained” Pardons, And Taxes On ATM Withdrawals: The Colau Plan

Fighting Cash, “Restrained” Pardons, And Taxes On ATM Withdrawals: The Colau Plan

Fighting Cash,

Fight cashAnd the pardon “Bound” and one Tax (by deduction) on withdrawals from ATMs From an amount that exceeds a certain “physiological threshold”.

To suggest the chief was The task force of the second stage, Vittorio Colau, Appointed February 13, 2021 Minister of Technological and Digital Innovation In Draghi’s government.

The Colau’s plan To restart Italy, which was developed by the Expert Committee established with DPCM Conte on April 10, 2020, it now returns to the fore and reveals what could be some of the Draghi Government Guidelines.

The Fight tax evasion It is one of the priorities of the new government, and is considered essential to implement real tax reform. Evasion and great use of money go Hand in hand, according to experts, which is why the new minister, Vittorio Colao, suggested “ban them.”

Fighting cash, “restrained” pardons, and taxes on ATM withdrawals: Minister Colau’s plan

In Italy ,85% of transactions are still cashAnd we are ranked 23rd in Europe for card and ATM transactions.

The data, outlined in sheet 7 of the Colau Plan, are accompanied by a series of actions that will be implemented immediately, please. Transition to digital transactions And for Reducing cash circulation Also in order to combat tax evasion.

However, the plan proposed by the working group of experts to the then Conte government, began with the submission of one Voluntary detection of sul contante And on other values ​​derived from undeclared income (including from illegal work), with 10% or 15% tax.

a Pardon, however binding it is: For a period of time (say 5 years) she proposed a Colao Plan The corrected amount is required for the refund’s functional activities (For example, investing in company capital that is the subject of voluntary disclosure, or investing in registered social bonds or other similar instruments).

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Then he joins the pardon A real fight against cash. The plan requested the then-and-now Minister Vittorio Colau to strengthen the initiatives to develop “Soon the higher euro notes (500 and 200) ceased to function.”Which highlights, for example, that the number of 500 euro banknotes deposited in Italian banks is much greater than distributed in parts of the same denomination.

Tax on cash withdrawals to stimulate card and ATM use: Minister Colao’s innovation strategy

Then Colao plan asked to submit Measures to encourage the use of electronic paymentsLike the lottery receipt, the entry is not found Penalties For companies and services Without POS or with POS it does not work.

To discourage the use of criticism, the expert panel also suggested measures such as the application of A. Withholding tax (5%) as an advance on IRPEF In withdrawals that exceed the physiological limit. a Monetary taxIn conclusion.

It is difficult to determine whether Minister Colau will continue down the path that Prime Minister Conte has indicated, especially given the different souls that make up the new executive branch and the conflicting views on pardons and restrictions on the use of cash.

Nevertheless, combating tax evasion remains a priority goal. The way forward remains to be determined.

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