Stop tax breaks for high incomes

(ANSA) - Rome, October 14 - The 2020 budget may stop tax breaks for high earners, sources said as the government was finalising the package Monday.
    There may be, they said "an initial remodulation of tax expenditures, with tax breaks being reduced, down to zero, starting with earners above 11-120,000 euros a year".
    This would affect "only 1-2% of tax payers," the sources said.
    The intervention, they said, would be "soft, very selective and not retroactive".
    The new rules on tax breaks would apply starting with 2020 expenditures, the source said.
    That means their effects would be seen in income tax returns for 2021.
    The government is putting the finishing touches to the 2020 budget amid some disagreement among government partners.
    A revised and updated version of the government's DEF economic and financial blueprint must be sent to the European Commission by Tuesday night.
    The government is mainly composed of the anti-establishment 5-Star Movement (M5S) and the centre-left Democratic Party (PD).
    There are also two smaller parties, ex pòremier and former PD leader Matteo Renzi's Italia Viva (IV9 and the small centre-left Free and Equal (LeU) party.