Economy

New regime VAT payment (cash) available for professional developers

The new VAT regime for cash will soon be in place. Even before sending to the Official Journal, the Department of Finance issued a decree giving effect to the provisions for the settlement of VAT according to the mode "cash", contained in the Development Decree (Decree 83/2012, Art. 32a ).

With the new regime in cash, from 1 December, the possibility for the issuer of the invoice, to pay VAT only to pay the fee and will be expanded to a greater number of taxpayers. Will benefit businesses and professionals with a turnover of up to € 2 million. In addition to raising this threshold (in the current regime defined by art. 7 of Decree 185/2008, amounted to EUR 200 thousand), the novelty is that once exercised the option to join the scheme will be applied to all invoices issued and received, plus the buyer or the buyer will deduct VAT without waiting for the payment of the consideration.

Reports of additional income tax deductions and request for adjustment in the fiscal year-end

The employer as withholding agent is obliged to perform the adjustment of fiscal year-end. To this end, the employee may make the disclosures to report additional income or require further tax deductions such as those for the rent, for the large family, or the child support.

The employees, as taxpayers income earners, they are obliged to pay tax personal income tax and additional regional and municipal authorities as a result of income received. The tax laws with respect to taxes on income includes a number of tax concessions granted to taxpayers. They range from deductible from income tax deductions, it is a number of possibilities for the reduction of taxes payable, tax deductions in payroll. The year-end tax adjustment made mandatory by the employer then has an opportunity to make the final calculation of taxes due and also an opportunity to recover a tax credit as a result of deductible expenses and tax deductions.

Extended to companies with fewer than 10 workers the requirement to have fire fighters

Even for companies with fewer than 10 workers are required to designate officers to fire services. To clarify it is for the Commission may approach the Ministry of Labour in response to a question put by the National Council of Engineers.

It is clearly stated that the employer form the team for fire fighting and emergency management on the basis of the risk assessment and emergency plan, if any.

The requested a ruling given by the CNI referred al'art. 5 of DM 10.03.1998, according to which 'for workplaces where employees are less than ten employees, the employer is not required to prepare the emergency plan, subject to the adoption of the necessary measures to implement organizational and management in case of fire. "

How taxing fringe benefits, property in use or lease, loans on concessional, company cars, business phones?

The company may grant to employees also compensation other than money, such as a company car, property in use or lease, low-interest loans. One speaks in this case of fringe benefits. Should be placed in envelope

In the face of the payroll, in the entry for the compensation elements, may be inserted items relating to special compensation received by the workers. These are the fringe benefits, which are the goods or services that the company or the employer provides the employee, which can use for free or on terms more advantageous than those of the market. This is for example the company car in mixed use, or a building leased. The detailed quantification in the pay bill aims to submit to taxation and payment of such fees in kind contributions.

When you can deduct the costs of telephone lines and mobile phones?

In the exercise of entrepreneurial activity or a liberal profession is possible to operate the VAT deduction and the deductibility of costs for the purchase of mobile phones, consumption costs incurred for the fixed and mobile telephony, for modems and personal computers. We see the percentages and conditions.

The phone market, both fixed and mobile, is full of commercial offers of telephone companies, which are make great competition for new customers. Offers are of various types, often concern promotions on purchases of mobile phones, smartphones, or promotions related to the transition from one operator to another. The customer, the citizen, the taxpayer is therefore at having to constantly evaluate the various offerings, given the enormous choice between the various fees and subscriptions telephone operators.

The social security and welfare, to cover employees, voluntary continuation, cash professionals are deductible from income

The Consolidated Law on Income Tax (Income Tax Code) governs all expenses incurred by the taxpayer that fall within the deductible expenses. These are the charges for which there is a deduction from the total income, that is, certain costs incurred by taxpayers reduce the amount of the total income on which to calculate the taxes on income payable each year.

Deductible charges are expressly provided for in the Tax Code art. 10 and include the main house, the land charges, medical expenses and assistance for the disabled, checks and periodic food and, finally, social security contributions. Among the latter, we have the social security contributions for supplementary pension schemes and social security contributions mandatory. Deepen the latter.

Allowance expenses and reimbursement of expenses: limits exemptions from income of employees

The workers sent away are paid in payroll expense reimbursements and compensation for work outside the town hall. The IRS provides for exemptions from employment income, beyond which the figures contribute to the taxable receipts tax. We see all aspects.

During the course of the employment relationship often, especially for particular sectors (such as construction) that the company who needs to send its workers away outside the municipality where the company is located. In this case, generally, the worker is entitled to reimbursement of expenses to the perception of a travel allowance.

Taxable income and deductibility of contributions to pension funds and health funds

The contributions to the pension funds and the health funds are among the charges deducted from taxable income in the income tax form 730 or Model Act. We see the limits, conditions and notices to be done.

Social security contributions paid by the employee and by the employer or principal to supplementary pension funds are among the charges deducted from the total taxable income for the purposes of calculating income tax. And we are both voluntary contributions due under contracts or collective agreements, even business. The pension can be both collective and individual.

Calculation of year-end adjustment of personal income tax and additional tax due from the worker or pensioner

The employer or the institution to make year-end tax adjustment. It is a final calculation of personal income tax and additional tax due from the worker or pensioner, who should make the request in order to receive any tax deductions or communication of other income. Let's see why.

Employers, as withholding agents are called each year to conduct a performance summary both fiscal and contributory: the balance of the year. It is a recalculation of taxes and contributions due on the basis of the income earned during the year, the amount of which becomes certain at the end of the tax year, then in the month of December. To be subject to adjustment are the contributions (INPS or other institution) and taxes (income tax, additional regional municipal) is dependent on the worker that the company itself. This year-end that corrects and adjusts the amounts withheld in paychecks from January to November, both as taxes as contributions paid by the employee.

Modify rules that allow the rescheduling of debts with Equitalia

Equitalia tries to mend the rift with taxpayers and announces news to enable citizens and businesses to come into compliance with the IRS in an easier way. Recall that from next April 1 will debut tax mediation for disputes with the Inland Revenue, but which are excluded from the acts of Equitalia.

In any case, explains Equitalia thanks to regulatory changes decided in Italy and in the decree Save on tax simplification, as well as regulations of the same collection agency (Directive 7/2012 Equitalia) Today you can easily buy the deferral of payment forms . It is a particularly appreciated by the taxpayers, given that since 2008, the year in which the option of paying in installments was introduced, were granted 1.5 million more installments for a total amount of almost EUR 20 billion.

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