Electronic payments, new 100% bonus for POS users

Electronic payments, new 100% bonus for POS users
Electronic payments, new 100% bonus for POS users

Announcements per who uses the POS in 2021: the new Tax, Labor and Business decree provides a 100% bonus.

The provision, published in the Official Gazette on 1 July, increases the so-called bonus POS 30% on commissions on electronic payments, then made by card or debit card.

Not only that: the decree n. 99 of 30 June provided for two more tax credits: one for those who buy the POS, and the other for those who use (even by renting) tools that allow the storage and transmission of data to the Revenue Agency.

Electronic payments, new 100% bonus for POS users

The Tax, Labor and Business decree contains significant news regarding electronic payments: on the one hand, the Cashback Program is suspended (right on the day of the start of the second semester).

On the other hand, however, it increases the tax breaks for VAT numbers who use the POS.

In detail, article 1, paragraph 10 provides for the strengthening of the so-called bonus POS from 30 to 100%: it means that business, art or professional operators can recover the full amount of the commissions due on electronic payments from 1 July 2021 to 30 June 2022.

Electronic payments bonus: a new tax credit for VAT numbers

The facilitations for electronic payments due to VAT numbers do not end there. The decree n. 99/2021 in fact provides for two new tax credits: the first bonus is due for the purchase, the rental or the use of tools that allow forms of electronic payment and for the connection with the telematic recorders.

The tax credit is up to the maximum limit 160 euro expenditure, in the following measures:

  • 70% for subjects whose revenues and related remuneration in 2020 up to 200 thousand euros;
  • 40% for subjects whose revenues and fees in 2020 are between 200 thousand and 1 million euros;
  • 10% for subjects whose revenues and fees in 2020 are between 2 and 5 million euros.

POS bonus for VAT numbers up to 320 euros: how does it work?

The second new bonus is up to the VAT numbers that purchase, rent or use advanced electronic payment tools that allow the storage and transmission of data.

The tax credit is up to the maximum spending limit per person of 320 euros, in the following measures:

  • 100% for subjects whose revenues and fees in 2020 are less than 200 thousand euros;
  • 70% for subjects whose revenues and fees in 2020 are between 200 thousand euros and 1 million euros;
  • 40% for subjects whose revenues and fees in 2020 are between 1 and 5 million euros.

We can therefore summarize the amounts and percentages of the two tax credits provided for by the new decree of 1 July in the table below:

POS purchase or rental

% POS tax credit amount revenue and remuneration limit in 2020
70% up to 160 euros up to 200 thousand euros
40% up to 160 euros between 200 thousand and 1 million euros
10% up to 160 euros between 1 and 5 million euros

purchase or rental of advanced electronic payment instruments

% POS tax credit amount revenue and remuneration limit in 2020
100% up to 320 euros up to 200 thousand euros
70% up to 320 euros between 200 thousand and 1 million euros
40% up to 320 euros between 1 and 5 million euros

Tax credits can only be used as compensation and once the expense has been incurred they must be indicated in tax declaration, both in that relating to the year of accrual of the credit and in those relating to the period in which use ends.

The bonuses do not contribute to the formation of income either for the purposes of income taxes or for the purposes of IRAP.

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