Rome, 23 October 2025 – “We are analysing the texts of the budget bill that are circulating at this time. From a strictly fiscal point of view, we note that there is a lack of support for the capitalisation of businesses and a serious reduction in the tax burden. There is also no definitive rationalisation of the taxation of company cars, a measure that has been long awaited,” he comments. Angelo Camilli Vice-President for Credit, Finance and Taxation of Confindustria.

“We are also concerned about the tightening of the tax regime on dividends, which risks compromising the competitiveness of Italian companies and the certainty of the regulatory framework. Furthermore, it is necessary to maintain tax credit compensation which, if removed, could have retroactive effects even on benefits already accrued.”.

“Finally, we note the failure to extend the current operating rules of the Guarantee Fund for the SME, currently in force until 31 December 2025. This extension would not entail any additional costs, provided that no measures are taken to strengthen the role of the Fund.

“With a view to providing greater support for businesses” access to credit," Camilli continues, "the role of the Fund should be strengthened. Furthermore, the provision, which has not yet been implemented, that provides for an additional premium for credit institutions that make extensive use of the Fund's guarantees is critical and should be eliminated, as it risks creating tensions in relations between banks and businesses and increasing the cost of credit.".

“We fully understand the budgetary constraints that accompany this manoeuvre,” he concludes, "but we are confident that parliamentary debate will further refine these measures.".