The 2024 Budget Law

News no.2/2024

On December 30, 2023, Law no. 213, concerning the 'State Budget Forecast for the financial year 2024 and multi-year budget for the three-year period 2024-2026,' was promulgated. It came into force on January 1, 2024, with the exception of the provisions under paragraph 296, which took effect on December 30, 2023.

This year, the Budget Law has been divided into two Sections:

1. Section I, comprising a single article and 561 paragraphs, containing the quantitative measures for achieving programmatic objectives;

2. Section II, comprising 20 articles, containing the approval of the forecast statements.

Below, we summarize the most important measures concerning employment and social security.

Summary:

• Confirmation of the tax wedge reduction                                  

• Fringe benefits exemption threshold                    

• Tax relief on productivity bonuses                             

• Social security contribution relief for working mothers                           

• Measures for parental leave                                    

• Nursery school bonus                                                                       

• Measures for apprenticeships                                                    

• Hiring incentives for women victims of violence           

• Disability Inclusion Policies                                      

• Supplementary Benefit in the Tourism and Hospitality Sector     

• Measures to Counter Tax and Social Security Evasion in the Domestic Employment Sector                                         

• Restrictions on Offsetting INPS and INAIL Credits          

• Fund for Employment Crises in the Publishing Industry    

• Healthcare Measures for Cross-Border Workers                

• ISCRO Measures                                                                             

• Increase in Contributions to the Separate Management Fund                        

• Extension of Social Safety Nets                                                 

• Redemption of Contribution Periods Not Covered by Contributions  

• Pension Revaluation                                                    

• Contributory Pensions: Requirements, Effective Date, and Calculation Method             

• Opzione Donna                                                                        

• Quota 103                                                                               

• APE Sociale                                                                              

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Confirmation of the Tax Wedge Cut (Art. 1, Paragraph 15)

For pay periods from January 1, 2024, to December 31, 2024, an exceptional exemption is granted for employed individuals on the portion of social security contributions for invalidity, old age, and survivors, payable by employees:

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