With the company liquidity decree, the government has extended a number of tax deadlines relating to April and May 2020. The text of the provision has not yet been published, but some information can be obtained from the press release issued by the government after the last meeting of the Council of Ministers.
The postponement of tax obligations concerns workers and businesses. In particular, "the suspension of VAT payments, withholding taxes and contributions for the months of April and May is envisaged - reads the press release - in addition to those already envisaged with the Cura Italia decree".
Payments will resume in June and can be divided into 5 rate.
THE NEW TAX DEADLINES EXTENDED
Here are the new extended tax deadlines:
- VAT for monthly payers.
- Withholding taxes on income from employment or similar, compensation for self-employment or capital income.
- Inps contributions for employees.
FOR WHOM THE EXTENSION IS WORTH IT
But be careful: the extension of these three tax deadlines does not apply to everyone.
The scope of beneficiaries includes:
- VAT numbers, self-employed and companies with revenues or fees of less than 5 million per year which have recorded a drop in turnover of at least 33%.
- VAT numbers, self-employed and companies with revenues or fees exceeding 5 million per year which have recorded a drop in turnover of at least 50%.
- All subjects who started to operate from the first of April 2019.
Only with regard to VAT, residents in the 5 most affected provinces from the coronavirus epidemic (Bergamo, Brescia, Cremona, Lodi, Piacenza) will benefit from the postponement with the only condition that they have recorded a drop in turnover of at least 33%, with no ceiling on revenues.
OTHER REFERENCES
Furthermore, with the liquidity decree, the government also extends it to April and May the suspension of withholding taxes on self-employment income already provided for by the Cura Italia decree.
But it's not over. is extended"16 April is the deadline for payments due on 20 March”, while “the deadline for sending the Unique Certification has been extended from 31 March to 30 April".
As for the 50% tax credit on costs for sanitizing workplaces, is also extended to the purchase of masks and glasses.
THE SIMPLIFIED INPS PIN
The liquidity decree allows INPS to issue a simplified PIN through "the telematic identification of the applicant and postponing the verification with direct recognition until the end of the emergency".
Finally, new rules are introduced on the so-called “compassionate drugs” (not yet authorised), which will be exempt from taxes in the event of a free transfer.
ACCOUNTING ACCOUNTS
According to the technical report drawn up by the State General Accounting Office and attached to the decree, the stop on the payment of social security and welfare contributions, as well as insurance premiums for workers, is worth over 6,5 billion. In particular, the value is 1,5 billion for April, relating to employees and collaborators, and 5 billion for May, of which 1,8 for employees and collaborators and 2,7 billion for the self-employed, plus 550 million for non-contributions Inail. These figures add up to 4,34 billion in suspended tax withholdings for the two months and 5,5 billion in VAT, plus 930 million withholdings on the self-employed. In total, there are 10,8 billion in taxes and 6,5 billion in suspended contributions, therefore a value of 17,3 billion, which, however, does not enter charges charged to the public budget, because the resumption of payments is expected by 2020.
