The 2024 Budget Law

News . 2/2024

On December 30, 2023, Law No. 213 was enacted concerning the "State budget for the 2024 financial year and multi-year budget for the three-year period 2024-2026." It came into force on January 1, 2024, with the exception of the provisions referred to in paragraph 296, which came into force on December 30, 2023.

This year's Budget Law has been divided into two sections:

1. Section I, consisting of a single article and 561 paragraphs, containing quantitative measures for the achievement of programmatic objectives;

2. Section II, consisting of 20 articles, containing the approval of the budget estimates.

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

Summary:

• Confirmation of tax wedge reduction                                  

• Fringe benefits exemption threshold                    

• Tax exemption for productivity bonuses                             

• Social security contribution relief for working mothers                           

• Parental leave measures                                    

• Daycare bonus                                                                       

• Apprenticeship measures                                                    

• Tax relief on hiring women who are victims of violence           

• Policies in favor of disability                                      

• Supplementary treatment in the tourism and hospitality sector     

• Combating tax and social security contribution evasion in the domestic work sector                                         

• Restriction on INPS and INAIL credit compensation          

• Fund for employment crises in the publishing sector    

• Measures for the health of cross-border workers                

• ISCRO measures                                                                             

• Increase in contributions to the Separate Pension Fund                        

• Extension of social safety nets                                                 

• Contribution redemption for periods not covered by contributions  

• Pension revaluation                                                    

• Contributory pensions: requirements, effective date, and amount             

• Women's Option                                                                        

• Quota 103                                                                               

• Social APE                                                                              

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Confirmation of the tax wedge cut (Article 1, paragraph 15)

For pay periods from January 1, 2024, to December 31, 2024, on an exceptional basis, for employment relationships, an exemption is granted on the portion of social security contributions for disability, old age, and survivors, payable by workers:

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