Important News for Year-End Adjustments

News No. 51/2022

For the purpose of year-end tax adjustments and following the entry into force, from 19/11/2022, of Decree-Law No. 176/2022 (the so-called "Aiuti Quater" Decree), we remind you that the social security and tax exemption threshold for fringe benefits, i.e., goods provided and services rendered to employees, including sums paid or reimbursed to them for the payment of domestic utilities for integrated water services, electricity, and natural gas, is, exceptionally and only for the 2022 tax period, increased to Euro 3,000.

The increase in the fringe benefits threshold applies to both employment income and income assimilated to employment income (Article 50 of the TUIR exhaustively lists income assimilated to employment income, including, for example: scholarships, allowances, prizes, and subsidies granted for study or professional training purposes, sums received for participation in boards and committees, sums received for the activity of director, statutory auditor, or auditor of companies, associations, and other entities with or without legal personality, and compensation derived from coordinated and continuous collaborations).

Below is a non-exhaustive list of goods and services included in the “fringe benefits” basket:

• The conventional value of a company car granted for mixed private and business use;

• The conventional value of housing provided to employees;

• Gift cards, shopping vouchers, “mobility” vouchers (car sharing and bike sharing subscriptions or electric scooter rentals), Christmas hampers;

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