Updates from the conversion law of the 'Decreto Anticipi'
- giorgiafrisenda
- Jan 8, 2024
- Reading time: 2 min
Flash News No. 1/2024
On December 17, 2023, Law No. 191, converting Decree-Law No. 145/23 (the so-called 'Decreto Anticipi'), came into force.
Key updates in labor law are summarized as follows:
Fringe Benefits on Loans Granted to Employees
We wish to draw particular attention to the amendment of tax regulations concerning employer-provided loans to employees, considering the significant burden that previous legislation imposed on employees, exacerbated by the rapid increase in reference interest rates mandated by the ECB over the past year.
In Article 3 of Decree No. 145/23, after paragraph 3, paragraph 3-bis has been added, which amends Article 51, paragraph 4, letter b) of the TUIR (Consolidated Income Tax Act). Consequently, in the case of loans granted to employees, “50% of the difference between the interest amount calculated at the official reference rate applicable on the due date of each installment or, for fixed-rate loans, on the date the loan was granted, and the interest amount at the rate applied to the loan itself is assumed”.
Consequently, for the calculation of any fringe benefit:
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