News on the tax front: check the double installment payments. The government tries to patch it up. And, with the decree August, has provided for payment in installments. The payments of taxes to be borne by Italian citizens could initially be made for an amount equal to 50% of the sums subject to suspension, in a single solution by September 16, 2020. The remaining 50% of the sums due could be made, without penalties and without interest, by installment, up to a maximum of 24 monthly installments of the same amount, with the payment of the first installment, by January 16, 2021. But the stamped version of the decree provides, in addition to the installment in twenty-four months of 50% of the taxes, also the possibility of paying the first 50% in four monthly installments , the one to be paid by 16 September.
A taxpayer who has a debt of 48 thousand euros with the state can pay in installments. You will be able to pay, according to the scenario described by the Sole 24 Ore, 50% of the debt, ie 24 thousand euros, in 4 monthly installments of 6 thousand euros each, starting from 16 September 2020, until 16 December 2020. The other 50% will pay it in 24 monthly installments, of one thousand euros each, starting from January 16, 2021, until December 16, 2022.
The primary goal of dl August is to support the economic restart of Italy in the coming months. Autumn could bring with it a storm for the pockets of Italians. And so, the Giallorossi try to prevent the worst. The agreement was reached after weeks of discussion and back and forth within the majority. The text consists of a package of measures which, as widely anticipated, is worth 25 billion euros.
Of primary importance is the tax chapter. The taxes, suspended from the beginning of the lockout, will no longer be paid by the end of the year but in two years, with 24 monthly installments. This measure does not move the first appointment with the taxman scheduled for September 16. However, the installments will be much lighter because from 4 they become 24.
The suspended payments concern several taxpayers. First of all, the tourism sector, travel agencies, tour operators, national sports federations, sports, professional and amateur clubs, entities that manage stadiums, sports facilities, gyms, lottery offices, restaurants, ice cream, pastry shops, bars and pubs, spas, non-profit organizations. Then there are the taxpayers operating a business, art or profession with revenues or remuneration not exceeding 2 million euros in the 2019 tax period. Finally, taxpayers with revenues or remuneration not exceeding 400 thousand euros in the 2019 tax period.
The good news ends there. The government has in fact demanded the payments of 20 July and will also demand them on 20 August on some types of tributes. Let’s see which ones. No extension beyond July 20 of the payments of taxes for companies and VAT numbers. “A postponement would risk a major tax jam in September”, explained the deputy minister of the economy last month, Antonio Misiani. And so the deadlines of June 30 and July 30 (already postponed), respectively on 20 July and 20 August (the latter with an increase of 0.4%) must be paid. A further postponement to September 30 of the payments of advances and balances of self-liquidating income taxes was expected, a cash flow of 8.4 billion, which was however blocked. Instead, now, companies and VAT numbers will have to pay the 2019 balance and the 2020 deposit.
The payment of taxes affects 4.5 million taxpayers. Specifically, there are 142 deadlines: 51 payments were expected by July 20. personal income tax (2019 balance and 2020 deposit), IRES (2019 balance and 2020 deposit), Irap (2019 balance and 2020 deposit) and periodic VAT, 2019 balance of the dry coupon and first 2020 deposit. The payment of the annual fee to the Chamber of Commerce, the stamp duty on electronic invoices issued in the second quarter of 2020 is also starting. the payment of taxes and social security and welfare contributions on the basis of the tax return for holders of VAT numbers and shareholders of companies.
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