(Finance) – “It is with immense enthusiasm that we announce a historic achievement: the MEF, Minister Giorgetti and Deputy Minister Leo have accepted our proposed law in record time. “BAD TAX“, renamed “DIFFICULT DEBTS“. This proposal was officially sent to the Government and Ministers by email last February and now, as announced by the MEF, it has been de facto accepted in full”.
As Alexander BertoldiExecutive Director of theMilton Friedman Institute.
“The proposal, developed by eminent scholars of our Institute, including Prof. Ezio Stellato, Director for Fiscal Policies of the Milton Friedman Institute, Prof. Clelia Buccico of the University of Campania – Luigi Vanvitelli, Prof. Andrea Carinci of the University of Bologna and Prof. Mario Nussi of the University of Udine, – explained Bertoldi – provides for a innovative system for managing stuck tax debt. According to proposaltax credits that are not collected by the Revenue Agency within five years are entrusted to private companies specialized in the recovery of bad debts and in securitization operations, without this leading to a relentlessness of the State towards businesses and citizens already widely oppressed by one of the highest taxes in the world, which does not appear to have been reduced yet. The latest Report on the performance of tax agencies, published on July 1, certifies that between 2000 and 2023 the amounts collected stopped at 8.47% of the net load entrusted by creditors”.
“This initiative aims to improve the efficiency of tax collection by reducing debt recovery times and easing the burden on theRevenue Agency – he continued –. The society privateexperts in the sector, can adopt more targeted and flexible strategies to recover debts, thus contributing to increasing government revenues and reducing losses arising from uncollected debts. The involvement of private entities in the management of debts adheres exactly to the philosophy of the Friedman Institute which gives private entities an increasingly important role in the economy. This finish line not only reflects the quality of our research work, but also the Minister’s openness and sensitivity towards innovative proposals based on solid scientific foundations. Our heartfelt thanks go to Prof. Stellato for his intuition and to all our experts for their extraordinary work”.
“We sincerely thank Minister Giorgetti and Deputy Minister Leo for their trust in us and for demonstrating that a rapid and decisive approach is possible. We are certain that this represents only the beginning of a long and fruitful journey of collaboration. We conclude with an invitation to stay updated on future developments and to actively participate in this extraordinary journey of innovation and reform. Together, we can make a difference”, concluded the Executive Director of the Milton Friedman Institute.