The 2024 Budget Law

News n.2/2024

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

This year, the Budget Law was divided into two sections:

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

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

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

Summary:

• Confirmation of the tax wedge reduction                                  

• Exemption threshold for fringe benefits                    

• Tax relief for productivity bonuses                             

• Social security contribution relief for working mothers                           

• Measures for parental leave                                    

• Nursery school bonus                                                                       

• Measures for Apprenticeship                                                    

• Relief on hiring women who are victims of violence           

• Policies Supporting Disability                                      

• Supplementary allowance in the tourism and hotel sector     

• Combating Tax and Contribution Evasion in the Domestic Work Sector                                         

• Restriction on INPS and INAIL Credit Compensations          

• Fund for employment crises in the publishing sector    

• Measures for the Health of Cross-Border Workers                

• ISCRO Measures                                                                             

• Increase in contributions to the Separate Management scheme                        

• Extension of Social Safety Nets                                                 

• Contributory redemption of periods not covered by contributions  

• Revaluation of Pensions                                                    

• Contributory pensions: requirements, commencement and amount             

• Opzione Donna (Woman Option)                                                                        

• Quota 103                                                                               

• APE Sociale (Social Welfare Allowance)                                                                              

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Confirmation of the Tax Wedge Reduction (art. 1 paragraph 15)

For pay periods from January 1, 2024, to December 31, 2024, an exemption is exceptionally recognized on the share of social security contributions for invalidity, old age, and survivors, payable by employees for subordinate employment relationships:

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