News on News liquidity News
- Studio Piceci
- Apr 13, 2020
- Reading time: 1 min
Subject: Decree-Law No. 23 of April 8, 2020, known as the "LIQUIDITY DECREE"
EXTENSION OF THE RANGE OF WORKERS ENTITLED TO ACCESS SOCIAL SAFETY NETS (Art. 41)
The requirement for workers to have a certain length of service in order to access supplementary benefits (CIGO, ordinary allowance, CIGD), previously set at the date of hire by February 23, 2020, has been extended.
In fact, workers hired up to March 17, 2020, will be eligible for ordinary supplementary benefits, ordinary allowances, and exceptional supplementary benefits. March 17, 2020
SUSPENSION OF PAYMENTS FOR COMPANIES AND WORKERS based or residing in the territory of the State (Art. 18)
Subject | Terms of access recipients | Period affected by the suspension | Resumption of payment |
Suspension of payments: - VAT; - withholdings on income from employment and similar sources, regional and municipal surtaxes; - social security and welfare contributions, and premiums for compulsory insurance. | At least a 33% reduction in turnover, with reference to the same period of the previous year (March and April). In the case of revenues or compensation exceeding $50 million, the reduction must be at least 50%. | Payments due in April and/or May | Suspended payments must be made by June 30 in a single installment. June 30 in a single payment or in up to 5 equal monthly installments starting in June 2020. |
EXTENSION OF THE SUSPENSION OF WITHHOLDING TAXES ON INCOME FROM SELF-EMPLOYMENT, OTHER INCOME, AND COMMISSIONS (Art. 19)
Subject | Terms of access recipients | Period affected by the suspension | Resumption of payment |
Income from self-employment, other income, and commissions | revenues or compensation not exceeding €400,000 in the tax period prior to that in progress on March 17, 2020. Revenues and compensation received during the period are not subject to withholding tax by the withholding agent, provided that no expenses were incurred in the previous month for services rendered by employees or similar workers. Taxpayers who avail themselves of this option shall issue a specific declaration stating that the revenues and compensation are not subject to withholding tax pursuant to this provision. | Revenues and compensation received from March 17 to May 31, 2020 | The withholdings made must be paid by the recipient by July 30 in a single payment. July 30 in a single payment or in up to five equal monthly installments starting in July 2020. |