Bomb on VAT numbers: this is what they risk with taxes

Bomb on VAT numbers: this is what they risk with taxes
Bomb on VAT numbers: this is what they risk with taxes

Clouds on the horizon for all those VAT holders who have joined the flat rate scheme. This tax system, which provides for taxation at 15% up to 65 thousand euros in turnover, is in no way indicated in the nine articles of the government bill, approved last Tuesday. A detail that has not gone unnoticed and that alarms millions of taxpayers. Last June, the Finance Committees of the Chamber and Senate, in their proposals on tax matters, had dedicated an entire paragraph to the flat-rate system of VAT numbers, proposals reinforced by the update note attached to Def. In short, the premises were to confirm the forfeit, while the council of ministers seems to be moving in another direction.

The reason behind the choices of the executive, as reported The sun 24 hours, is to simplify the taxation system going in the direction of a “dual model”, with the modification of IRES and withholding taxes on business income. The main ways would be two: the same proportional rate to tax income deriving from the use of capital, ordinary personal income tax for all other income. In this way, the government would aim to facilitate the choice of the form of business to be set up: Srl, Snc or sole proprietorship. This would avoid deciding the legal nature of one’s business based on the tax convenience. To date, the flat-rate system is prevalent, given that it is chosen by almost one out of two new VAT numbers.

However, the path that the new one will have to take seems uphill bill of the council of ministers. It will be debated and approved in Parliament and it is very likely that substantial changes will be made that could revive the flat-rate scheme. In any case, the government document also provides for a gradual reduction in the effective average rates. The executive, while outlining a dual tax model, has safeguarded the possibility of guaranteeing incentives for start-ups, in particular through increased deductions, as is currently the case with the flat rate.

Source

Bomb VAT numbers risk taxes

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