Company welfare “But the monetary limits remain too low (Corriere Economia, 27 June 2016)

The comment of Mr. Vittorio De Luca regarding company welfare was quoted in an article written in Corriere Economic on 27 June 2016.

Everything seems ready for the start-up of a project to provide incentives for company welfare. Clarifications have arrived from the Ministry of Labour and the Italian Tax Authority for the provisions included in the Stability Law. “The provided clarifications confirm, among other things, the possibility for the worker to opt for welfare services in lieu of an economic bonus explained Vittorio De Luca managing partner of the De Luca & Partners law firm. This option may permit a greater dissemination of company welfare which, still at present, often encounters suspicion of a significant amount, not only of workers, but often even of trade union delegates”.
According to De Luca thanks to the option it is possible to include a non-binding welfare test phase, suited for later promoting implementation of real company plans that are autonomous in relation to company performance bonuses. And actually, there are numerous advantages connected with the option. For employees lower taxation for performance bonuses and higher tax breaks if they opt for welfare services. And thanks to the option, employers will be able to completely deduct any incurred expenses. “This picture certainly appears more competitive compared to the past, but the benefits of the option need to be expanded beyond the amount limits established by the Stability Law”, concluded De Luca.

Source:

Corriere Economia
 L TOR.