Important News Regarding Year-End Adjustments
- Dec. 12, 2022
- Reading time: 5 min
News No. 51/2022
For the purposes of the year-end tax adjustment and following the entry into force, as of November 19, 2022, of Decree-Law No. 176/2022 (the so-called “Aiuti Quater” Decree), please note that the threshold for social security and tax exemption on fringe benefits—that is, goods provided and services rendered to employees, including amounts paid or reimbursed to them for household utility bills for water, electricity, and natural gas—has been raised, on an exceptional basis and solely for the 2022 tax year, to 3,000 euros.
The increase in the threshold for fringe benefits applies to both income from employment and income treated as employment income (Article 50 of the TUIR provides an exhaustive list of income treated as employment income, including, for example: scholarships, grants, awards, and subsidies paid for educational or vocational training purposes; amounts received for participation in committees and commissions; amounts received for serving as a director, statutory auditor, or independent auditor of companies, associations, and other entities with or without legal personality; and compensation derived from coordinated and ongoing collaborative arrangements).
Below is a list—which is neither exhaustive nor definitive—of the goods and services included in the “fringe benefits”:
The standard value of a company car provided for mixed use;
The standard value of housing provided to employees;
Gift cards, shopping vouchers, “mobility” vouchers (car-sharing and bike- or electric scooter rentals), and Christmas gift baskets;
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