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Safety Deposit Boxes: Cash Forgiveness Takes Shape

Undersecretary Bitonci lifts the veil on one of the fundamental measures of the "fiscal peace 2.0" that the Government is developing - The discount could go up to 70%

Safety Deposit Boxes: Cash Forgiveness Takes Shape

There will be no quarterly scrapping of tax bills, on the other hand the tax evaders will be able to rejoice in another amnesty: this time, the Italians who use the safety deposit boxes to hide money from the taxman. These are the first two fixed points of the “fiscal peace 2.0” that the Government is developing.

Confirmation comes from Massimo Bitonci, Northern League undersecretary at the Ministry of Economy, who in an interview with Corriere della Sera also talks about "strengthening of some institutes already foreseen, such as settlement and conciliation, which allow you to close accounts with the tax authorities when the dispute started from presumptive or pure inductive assessments, such as the old sector studies". In these cases, the file can be archived by paying only a percentage (yet to be defined) of the sum due and without paying interest or penalties.

As for the amnesty on the safety deposit boxes, Bitonci explains that it will be up voluntary basis will relate only the amounts evaded, not those that could derive from other crimes, "such as money laundering or even worse". But how is it possible to make such a distinction? Unfortunately, this aspect remains shrouded in mystery.

On the other hand, the undersecretary explains that on the money that emerged from the Italian safe deposit boxes Irpef will be paid (with the rate of its bracket) and possibly VAT (for VAT numbers). However, the two taxes will not be paid on the full amount, but only on one side. At the moment, the percentage is still to be established: the hypotheses are 30, 40 or 50%.

Sounds like the definition of a pardon, but Bitonci rejects this definition: “There will be the presumption that these sums have been produced not just in the last five years, i.e. those possible for the tax assessment. But also in previous years, which are no longer subject to controls ”. This presumption, according to the undersecretary, is sufficient to justify a cut in the taxable amount which could reach up to 70%.

Also, if the money in the boxes are just savings no tax will be paid, provided however that the previous tax returns are consistent with the amounts that have emerged.

Finally, Bitonci ensures that the procedure of balance and excerpt it will be extended to companies that have a company crisis status certification.

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