The cashback that had thrilled taxpayers has come to an end sooner than expected. In fact, from 1 July it is blocked, the reimbursement will arrive until 30 June 2021. In the new Labor Decree, measures on digital payments, after the cashback, new bonuses are arriving for payments with ATMs and POS. This time, merchants with zero commissions will be facilitated as well as new tools for processing the electronic receipt.
After the cashback, new bonuses are coming for payments with ATM and Pos
The new Labor Decree (99/2021) provides for a commission bonus for using the POS from 1 July 2021 to 30 June 2022, for traders and professionals. The bonus consists of a 100% tax credit (therefore free of charge) to promote digital payments to combat tax evasion. In fact, the POS bonus already exists and is an extension from 30% to 100% of the tax credit on commissions.
It should be noted that the tax credit is not considered income and therefore does not contribute to its formation for the purposes of income taxes and IRAP. Instead, it can be used as compensation in the month following the expense. The Revenue Agency has made available the instructions of provision no. 181301 of April 29, 2020.
New bonus and electronic receipt
The changes introduced on the POS bonus also provide for the possibility of benefiting from an additional tax credit for the purchase, the use of tools that allow electronic payment or rental. The new bonus is related to the expenditure incurred on the basis of percentages. Furthermore, the limit amount is 160 euros, based on the following percentages:
a) up to 200 thousand euros for revenues and 70% remuneration;
b) between 200 thousand euros and 1 million euros 40%;
c) 10% between 1 and 5 million euros.
In addition, another tax credit is expected in 2022 for those who combine the purchase with electronic storage (electronic receipt). The maximum amount is up to 320 euros based on the following percentages:
a) 100% up to € 200 thousand;
b) 70% from 200 thousand euros to 1 million euros;
c) between 1 and 5 million euros, 40%.