The Italian Government is reportedly considering both corporate and individual income tax rate cuts. This would include a reduction in the standard corporate tax rate from 24% to 20%, and a change from the current five-bracket system for individual income tax with a top rate of 43% to a simple two-bracket system with a lower rate of 15% and an upper rate of 20% on income exceeding EUR 30,000. The changes are in the early stages of planning and are subject to change. Additional details of the …