Cash becomes the new weapon of Tax. L’Revenue Agency and the tax authorities in fact begin to sharpen their weapons for the new course (strongly desired by the Giallorossi government) which declares war on cash. And in this context, a new verdict of the Supreme Court must be underlined, which proved the tax authorities right, asking an entrepreneur to account for the cash collections, albeit accompanied by invoices.
The sentence
In this case, the Supreme Court accepted the reasons for the Revenue which had (on a presumptive basis) reconstructed the revenues of a company by comparing them with the accounting books and account statements. The analysis revealed an alleged discrepancy between what was paid into the account, what was collected and what was declared. Having said that, the family income of the shareholders, considered too low, and the documents of the same company that declared half of the revenues with cash payments are also targeted in the ruling of the Supreme Court. These payments corresponded to invoices but for the Revenue and for the Ermellini the amounts were considerable to the point of not justifying a cash payment. The case is destined to be discussed. In fact, this ruling sounds like a prelude to greater pressure from the tax authorities on those who manage important collections in cash. Invoices, as you remember laleggepertutti.it, represent the primary track to understand the real collections. And if, as contested by the Supreme Court, they are too general then the tax assessment can be triggered from here, which almost always ends with a defeat by the taxpayer.
The anti-economics of turnover
Another indicator that targets cash is the deviation in the turnover of economic activity from that of the sector average. Also in this case, a trader who still has sales for small amounts but still continuous and important collections with cash could end up in the circle of hell of the tax authorities. But the same happens on the contrary, when an uneconomic nature of the commercial conduct is presumed: low income, loss-making operation even for a long period. In this case, income and business are targeted by assuming other unproven cash income. In this period of crisis, several traders remain open with enormous sacrifices to avoid the abyss of bankruptcy and closure. And this is not why they are “smart” who collect cash “secretly”. The tax law in this case almost always wins. This ruling must, however, make us reflect on another front: with the launch of the cashback operation and the incentive to pay by cards and the relative lowering of the threshold for the use of cash, in fact, tax controls will be increasingly harder. and more sour. With all due respect to those who still prefer cash to the pin and the green button.
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