Rome, November 19, 2017 - 13.15
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Finance act for the three year-period 2011-2013

Finance act for the three year-period 2011-2013

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Finance act for the three year-period 2011-2013

In order to adopt the necessary modifications to assure the financial stability of our country, the economic competitiveness and also in order to achieve the programmed budget objectives, the Government made a normative intervention in the month of May, with the bill n. 78 of 2010. The decree allows to respect the engagements assumed in the European frame with the Update of the Program of Stability 2010. The correction of the public accounts as foreseen by the decree is online with the recommendation of Council ECOFIN to adopt within the 2 June the 2010 corrective measures necessary to lead back the deficit within the threshold of the 3 percent of the PIL in 2012. The decree joins moreover the path of consolidation already started with Finance act 2009-2011.

The Finance act previews the correction of the tendency courses of the net indebtedness for three years 2011-2013 without to modify, instead, the balance of 2010. For the year in course the greater revenues are destined to finance the international missions of peace and the National Health Service. The reduction of the budget balance piles to approximately 12 billions in 2011 and to approximately 25 billions in everyone of the two successive exercises. Great part of the correction is obtained with the reduction of the expense, in prevalence of running part. The decree includes interventions on the expense of the central administrations, of the Civil Service, on the social performances, on the sanitary expense, on the decentralized finance. Other quota of the correction is correlated to the increase of the revenues, consequence, in particular, of the actions of contrast to the partial and total fiscal elusion.

The aggregation of the effects of the provision for the subsectors of the public Administrations evidences the various contribution to the attainment of the deficit objectives. The central Administrations concur in terms of net Finance act, in three years 2011-2013, for approximately 29,4 billions, the Local governments contribute for 27,5 billions and the Agencies of ulterior social security and social welfare for 5 billions.

In order to favour the development, the bill foresees measures in order to stimulate the competitiveness, and among these measures we can quote the contract of productivity, the fiscal system of advantage for the South, the institution of zero bureaucracy zones, the fiscal norms in order to attract the investments from European enterprises in Italy, and also the fiscal incentives to promote the come back to Italy of abroad resident researchers and teachers.

About Finance act
The Finance act is an annual document that is part of the Brief notes of the State General Accounting Department that reports ...More read full story: About Finance act