The tax system and the COVID emergency

With the outbreak of the pandemic and the serious crisis in which the economy has entered, the Fiscal Laboratory has devoted attention to the most immediate problems. It has prepared and published proposals, in line with the action taken by the government, to rationalize and complete some measures already implemented and to strengthen the tax manoeuvres provided for by the decrees Cura-Italia, Liquidità e Rilancio. In particular, to further alleviate the liquidity problems of enterprises and households, to support the economic accounts of enterprises and to facilitate corporate reorganisations. These include the suspension of restrictions on deductibility of interest expense and the regulation on shell companies, the strengthening of the ACE and the regime for deductibility of losses.