Corrective budget adjustment 2017

The corrective fiscal package called “Urgent measures in financial matters, initiatives in favor of local authorities, further measures for areas affected by earthquakes and measures for the development”, was approved by the Cabinet in its meeting of April 11 2017, and amounted to more than 3,4 billion euros.

The measure contains a series of measures on the revenue side, local authorities, Justice tax, economic and infrastructure development. It also contains measures for the economic development and in infrastructure.

Among the measures in terms of tax revenues:

  • extension of the scope of c.d. split payment also to those made against other parties, until now they pay tax to their suppliers according to the general rules
    law enforcement measures to tax offsets undue
    recalculation of the base ACE (Aid to Economic Growth).

The corrective budget adjustment also contains actions to accelerate the reconstruction of the areas affected by the earthquake last year. It was made for the establishment of a specific fund 1 billion euro for each of the three years 2017-2019 intended to allow the acceleration of the reconstruction activities.

In the attached circular, learn more. We remain available to provide assistance and evaluate each individual case.