TAX MEASURES IN SUPPORT OF COMPANIES
Suspension of tax and social security contributions for subjects with revenues and fees not exceeding € 50 million
Stakeholders
All subjects engaged in business, art or profession which
- have their tax domicile, registered office or operational headquarters in the territory of the State
- received revenues or fees not exceeding 50 million euros in the previous tax period (to the one in progress at the date of entry into force of this decree-law )
- have suffered a decrease in revenues or fees of at least 33% in March 2020 compared to the same month of the previous tax period and in April 2020 compared to the same month of the previous tax period.
Suspended payments and suspension period
Self-settlement payments that expire in the months of April 2020 and May 2020, relating to:
- withholding taxes referred to in articles 23 and 24 of Presidential Decree no. 600/1973, and withholdings relating to the regional and municipal surcharge, that the aforementioned subjects act as substitute tax (withholding taxes paid with tax code 1040 are not suspended automatically, but at the request of the beneficiary who receives the payment; see in this regard under ” Option for the non-liability of withholding taxes“;
- social security and welfare contributions, as well as compulsory insurance premiums, as well as
- the VAT due in April and
When to make payments
Suspended payments must be made, without the application of penalties and interest:
- in a single payment within 30 June 2020, or
- in installments up to a maximum of 5 equal monthly installments, starting from June 2020.
There is no refund for the amount already paid.
Suspension of tax and social security contributions for subjects with revenues and fees in excess of € 50 million
Stakeholders
All subjects engaged in business, art or profession which
- have their tax domicile, registered office or operational headquarters in the territory of the State
- received revenues or fees in excess of 50 million euros in the previous tax period (the one in progress on the date of entry into force of this decree-law)
- have suffered a decrease in revenues or fees of at least 50 % in March 2020 compared to the same month of the previous tax period and in April 2020 compared to the same month of the previous tax period.
Suspended payments and suspension period
Self-settlement payments that expire in the months of April 2020 and May 2020, relating to:
- withholding taxes referred to in articles 23 and 24 of Presidential Decree no. 600/1973, and withholdings relating to the regional and municipal surcharge, that the aforementioned subjects act as substitute tax (withholding taxes paid with tax code 1040 are not suspended automatically, but at the request of the beneficiary who receives the payment; see in this regard under ” Option for the non-liability of withholding taxes“;
- social security and welfare contributions, as well as compulsory insurance premiums, as well as
- the VAT due in April and
When to make payments
Suspended payments must be made, without the application of penalties and interest:
- in a single payment within 30 June 2020, or
- in installments up to a maximum of 5 equal monthly installments, starting from the month of June 2020.
There is no refund for the amount already paid.
NOTE:
- The suspension of the above payments operates automatically ( i.e. without the need to compare with the revenues or the turnover of the months of the previous year) for subjects carrying out business, art or profession, who have their tax domicile, the registered office or the operational headquarters in the territory of the State and who have undertaken the activity after 31 March 2019 .
For all companies, for which LDP pays the F24 Models on your behalf, we kindly ask you to inform us within 14 April 2020 in which category you belong and if you intend to benefit, where the conditions are applicable, of the suspension of payment of the F24 Model due on 16.04.2020.
For companies that autonomously pay the F24 models, we kindly ask you to inform us within 14 April 2020 in which category you belong in order to update our archives.
We also ask you to inform us within 11 May 2020, where there are the conditions to benefit from the suspension of payments also for the month of April 2020, how you would like to proceed with the payment of the F24 Model expiring on 18 May 2020.
LDP PAYROLL stays at your disposal for any further information.
De Carlo Arianna – adecarlo@ldp-payroll.com
Head of Payroll Department