The August Decree should provide for an extension for the payment of personal income tax and other tax payments. In particular, the deadlines for VAT and lump sum numbers are postponed, but one is foreseen increase of 0.8% for latecomers. On this point, therefore, the protest of the accountants. Let’s see, more specifically, what will be the news for tax payments.
Payment news
We anticipated that the August Decree will undergo an amendment that provides for the extension for the payment of IRPEF and other tax payments. The postponement will be included in the decree next week, as decided by the majority and confirmed by the Deputy Minister of Economy. In this case, will be postponed to October 30th the term of tax payments relating to IRPEF balance of income 2019, for those who have not met the deadline of August 20. However, as anticipated, the amount should suffer a increase of 0,8%.
Limits to extensions
The indicated extensions, however, have not been established indiscriminately but there are limits. The first is that they will be able to take advantage of the extension VAT numbers affected by the synthetic index of fiscal reliability, known as Isa, and the taxpayers adhering to flat rate scheme. The second limit is that it will be necessary to prove that, in the first half of 2020, one loss of turnover of 33%. Basically it is a loss that must be parameterized to the turnover for the same period of the previous year.
This is the third extension granted for the payment of the amount due to the Inland Revenue for IRPEF. Consider that the first deadline was scheduled for 20 July and had already been postponed after 20 August, as a result of the Covid emergency. The current postponement was made following the requests of the accountants. They had threatened the agitation of the category because of the risk of an excessive burden of tax obligations. In view of the further extension, however, they seem to have achieved the result they aspired to.
–
