Tax and social security/welfare deadlines for March 16, 2020
- Studio Piceci
- March 19, 2020
- Reading time: 2 min
With Resolution No. 12/E of March 18, 2020 (replaced due to a typographical error on March 19, 2020), the Italian Revenue Agency provided initial clarifications on the suspension of tax and social security contributions following the COVID-19 epidemiological emergency.
As provided for in the so-called Cura Italia decree, Decree Law No. 18/2020, the deadline for payments to public administrations, including those relating to social security and welfare contributions and compulsory insurance premiums, due on March 16, is extended to March 20, 2020.
At the same time, the suspension of payments has been extended until March 31, 2020, for individuals with revenues or compensation not exceeding €2 million in the 2019 tax period.
With regard to the latter, INPS reiterated in News . 37/2020 that "The employer or client who suspends the payment of contributions but at the same time withholds the employee's share is required to pay the latter on the ordinary legal payment dates" in order to avoid committing the offense of embezzlement.