COVID 19 and Italian Tax Policy in EU Context

The high public debt in some country under financial stress ( such as Italy), the need of investments increase and the economic uncertainty , deriving from COVID pandemic crisis, will make necessarily, in a long time fiscal policy, for the national Government , the finding of new resources as a consequence of the increase of public expenditures, the use of public investments and the new tax benefits and tax deferrals. An increase of tax pressure to rebalance the national public finance, will be necessary. The financial assistance, in EU context, as response to the COVID-19 crisis, has been considered necessary to tackle the seriousness of economic crisis involving the survival of economic and business activities. EU financial interventions ( tax restrictions and financial aids) that were introduced in Euro zone during the financial crisis, might be considered able to undermine member States autonomy to face the new health emergency. A solidarity tax like progressive wealth tax within EU ( as an additional European budgetary resource) could be, by reason of its progressivity and of the extraordinary needs of financial assistance, compatible with national common principles and traditions of the EU member states tax law systems .