A 30% tax credit on bank fees. It is not the cut that the trade associations had requested, Confesercenti in the lead, but it is a first step that the Government has decided to take pursuing a double purpose: on the one hand, to appease the discontent of exhibitors and traders in view of the entry into force of sanctions for those who refuse payments via POS, on the other hand to demand time and continue negotiations with the banks on a possible lowering of bank commission payable by traders and merchants on transactions made through Pos. Not surprisingly the rule will take effect from 1 July, on the same day as the fines for refusing electronic payments will take effect.
The tax credit was included in the tax decree related to the Maneuver and published in the Official Gazette on 26 October.
TAX CREDIT: HOW IT WORKS
THEarticle 22 of the tax decree establishes a tax credit equal to 30% of the commissions on transactions made with debit, credit or debit cards, prepaid. But be careful because the measure will not apply to everyone, but only to activities that in the previous tax year have declared rrevenues and fees equal to or less than 400 thousand euros per year. Therefore, no supermarkets or large chains, but bars, shops, restaurants and small-medium businesses.
Going into detail, the operating mechanism is similar to the tax credit already in force for petrol stations. The law establishes that, starting from 1 July 2020, merchants will be able to count on a tax credit equal to 30% of the commissions charged for each individual transaction. The tax credit will be used exclusively in compensationstarting from the month following the month in which the expense was incurred. Not only that: it must be included in the tax return relating to the tax period in which the credit accrued and in the tax returns relating to subsequent tax periods up to the one in which use ends. For their part, operators who make payment systems available to merchants will have to send the Revenue Agency the information necessary to check whether the tax credit is recognized correctly or not.
According to the first calculations, the measure will cost the State 26,95 million in 2020, 53,9 million when fully operational (but the figure could rise with the emergence of the illegal economy) and will affect an audience of 2,1 million VAT subjects with a total turnover of 108 billion euros and an average income of 50 thousand euros.
POS OBLIGATION: HERE ARE THE SANCTIONS
As mentioned, the measure is closely linked to the entry into force of sanctions for those who do not comply with the obligation to use the Pos. The tax decree in fact provides for a double "punishment": a fixed fine of 30 euros to which is added another penalty equal to 4% of the value of the transaction for which card payment was not accepted. To supervise the violations will be officers and agents of the judicial police.
