News 3 - Decreto-Rilancio
- Studio Piceci
- May 26, 2020
- Reading time: 5 min
News 3 - Tax measures of the so-called Relaunch Decree
Subject: Law Decree 19 May 2020, No. 34
In conclusion of the News regarding the so-called Relaunch Decree, this News outlines the main tax measures contained in the aforementioned regulatory provision, which includes a further extension of the tax and contribution payments suspended as a result of the COVID-19 epidemiological emergency.
Title VI: Fiscal measures (articles 119-164)
FURTHER EXTENSION OF SUSPENDED PAYMENTS RELATED TO MARCH, APRIL, AND MAY (Art. 126 - 127)
With the so-called Relaunch Decree, the terms of payments suspended by previous decrees have been extended and standardized - the Cura Italia Decree regarding the suspension of payments for March and the Liquidity Decree for those relating to April and May.
The payments subject to suspension relating to withholdings on income from employed and similar work, social security and welfare contributions, as well as premiums for compulsory insurance and VAT payments, must be made without the application of penalties and interest in a single solution by September 16, 2020; or through installment payments up to a maximum of 4 equal monthly installments, with the first installment due by September 16, 2020.
Below are the deadlines, divided by month, with an indication of the recipients, the subject of the suspension, the suspended period, and the new payment date, now standardized.
PAYMENT DEADLINE FOR MARCH, APRIL, AND MAY 2020
TAX CREDIT FOR THE ADAPTATION OF WORK ENVIRONMENTS IN PLACES OPEN TO THE PUBLIC (ART. 120)
A tax credit is granted to entities engaged in business, art, or professional activities in places open to the public, associations, foundations, and other private entities, including Third Sector entities, equal to 60% of the expenses incurred in 2020, up to a maximum of €80,000, in relation to the interventions necessary to comply with health regulations and containment measures against the spread of the COVID-19 virus, including the necessary building works for:
the renovation of changing rooms and canteens;
the creation of medical spaces, entrances, and common areas;
the purchase of safety furniture;
as well as investments in innovative activities, including those necessary for innovative investments such as the development or purchase of instruments and technologies necessary for carrying out work activities; the purchase of equipment for controlling the temperature of employees and users.
The tax credit can be combined with other concessions for the same expenses, however, within the limit of the costs incurred and can be used in 2021 exclusively for offsetting purposes.
The methods for monitoring the use of the tax credit will be established by a provision of the Director of the Revenue Agency.
TAX CREDIT FOR THE SANITIZATION OF WORK ENVIRONMENTS AND THE PURCHASE OF PERSONAL PROTECTIVE EQUIPMENT (hereinafter PPE) (ART. 125)
A tax credit is granted to entities engaged in business, art, or professional activities, non-commercial entities, including Third Sector entities and religiously recognized entities, equal to 60% of the expenses incurred in 2020 for the sanitization of environments and tools used, as well as for the purchase of PPE and other devices to guarantee the health of workers.
The credit is granted up to a limit of €60,000 for each beneficiary, within the limit of €200 million for the year 2020.
The following expenses incurred up to December 31, 2020, are eligible to generate credit:
for the sanitization of the environments in which the aforementioned subjects carry out their work and institutional activities and of the instruments used in the context of these activities;
for the purchase of personal protective equipment, such as masks, gloves, visors and protective glasses, protective suits and footwear, which comply with the essential safety requirements provided for by European legislation; - for the purchase of detergents and disinfectants;
Want to know more?
Subscribe to studiopiceci.it to continue reading these exclusive posts.