Extension of Income Tax and Irap payment
Art 6 DL “Ristori bis” extend the second instalment of Income tax in accordance with art 98 del DL 104/2020.
The payment of income tax and IRAP has been postponed until 30/04/2021. (tax period 2020). Also covered by the previous rule are substitute taxes, income tax additions and property taxes.
The extension is to be referred to those who carry out economic activities for which the ISA has been approved. The extension is also referred to who operates in the areas classified as highest severity or as high-level risk (red and orange area).
In order to use the measure, it is necessary to comply with a twofold requirement, one subjective and the other objective.
With reference to the subjective requirement, the extension is referred to who:
– Carry out economic activities for which ISA indices have been approved
– Declare revenues or compensation not exceeding the limit of 5,164,569 euros
– Members of limited partnership, collaborators of family-run businesses, spouses who manage marital companies, members of associations (artists and professionals) and members of “transparent” limited companies
In addition, flat-rate taxpayers and those who have cases of exclusion or inapplicability of ISAs will also benefit of the payment extension.
On the other hand, those who carry out farm business and who have agricultural incomes are excluded by the extension benefit.
Regarding the objective requirement, it is necessary to have had a decrease in turnover of at least of 33% in the first half of the year 2020 compared to the same period in the previous year.
DL “Ristori bis” introduce two categories that are not subject to the decrease in turnover:
- Isa subjects who carry out suspended or limited activities due to the COVID-19 emergency and have a tax domicile or operational location in the areas classified as maximum severity (red zones)
- ISA subjects carrying out restaurant management activities in areas of maximum severity and high risk (red and orange zones)