(see related)Companies will
save 4.1 billion euros a year if the government cuts business
taxes to 24% in 2017 as promised, CGIA economic think tank said
Thursday. Premier Matteo Renzi earlier said he will cut IRI and
IRES business taxes - the latter is currently at 27.5% - to 24%
next year. The 3.5% IRES cut would affect 628,000 firms or 15%
of all businesses, allowing each company to save 4,143 euros a
year, according to CGIA. Large-cap companies such as investment
and financial firms will save as much as 422,331 euros a year.
"The IRES tax cut will mostly benefit big business," CGIA
analysts said. They called on the government to also cut IRAP
regional business taxes.
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