Tax and Social Security/Welfare Deadlines of March 16, 2020
- Studio Piceci
- 19 Mar 2020
- Reading time: 2 min
With Resolution No. 12/E of March 18, 2020 (replaced due to an error on March 19, 2020), the Italian Revenue Agency has provided initial clarifications on the suspension of tax and social security payments following the COVID-19 epidemiological emergency.
As stipulated by the so-called "Cura Italia" Decree, Legislative Decree No. 18/2020, the deadline for payments to public administrations, including those related to social security and welfare contributions and mandatory insurance premiums, due on March 16, has been extended to March 20, 2020.
Concurrently, the suspension of payments has been extended until March 31, 2020, for entities with revenues or compensation not exceeding 2 million euros in the 2019 tax period.
Regarding these entities, INPS, in News No. 37/2020, reiterated that “Employers or principals who suspend the payment of contributions but simultaneously withhold the employee's share are legally obliged to remit the latter by the ordinary legal payment deadlines,” to avoid incurring the crime of embezzlement.
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