September 25, 2021
Goodbye old debts with the tax authorities, those up to 5 million euros, and relating to roles entrusted to collection from January 1st to December 31st 2010. On October 31st they will be automatically canceled by the tax authorities without any need to apply. For everything that goes beyond the period there is still hope arrived yesterday from the Deputy Minister of the Economy, Laura Castelli who said on the now operational measure: “It is a first step, in the direction desired by Parliament, which is leading us to gradually clean up the fiscal warehouse with bad debts and which must, as soon as possible, also be followed by a scrapping quater and a new balance and excerpt ».
Meanwhile, the rules for the write-off of debts up to 5mi1a euro provided for by the “Sostegni decree” were published yesterday. With the circular no. 11 / E, signed by the director of the Revenue Agency and issued in agreement with the Revenue-Collection Agency, clarifications are provided on the debts that can be canceled, on the taxpayers who can benefit from the measure and on the timing. In detail, the limit of 5 thousand euros (including capital, interest for delayed registration in the role and penalties) must be calculated in relation to the amounts of the individual charges. Individuals (form 730 and Income 2020) who have received a taxable income of up to 30 million euros in the tax year 2019 and entities (joint stock companies, partnerships and non-commercial entities) that have achieved , in the current tax period as of 31 December 2019, a taxable income of up to 30 million euros.
Compliance with the ceiling must be calculated taking into account the capital, the interest for delayed registration in the role and the penalties, while the premiums and interest on arrears and any procedural costs are excluded from the calculation. If the taxpayer has several charges registered in the role, the amount of each counts: if the individual charges do not exceed 5 million euros, they can all benefit from the cancellation. The excerpt also applies to debts falling within the “Scrapping-ter” (D1 no. 119/2018), the “Balance and excerpt” (Budget law 2019) and the “Reopening of deadlines” (provided for by D1 no. 34 / 2019).
On the website of the Revenue-Collection Agency it is possible to check whether the debts admitted to the aforementioned facilitated definitions can be canceled. The payables that may be subject to an excerpt must refer to individuals and subjects other than individuals who have achieved taxable income, respectively in the tax year 2019 and in the tax period in progress as of 31 December 2019 up to 30mi1a euro. For natural persons, the 2020 Single Certifications and the 730 and PF 2020 Income Tax Returns present in the database of the Revenue Agency as of 14 July 2021 are taken into consideration.
For subjects other than natural persons, instead, reference is made to the tax return forms for corporations, partnerships, non-commercial entities, in the title page of which a tax period is indicated which includes the date of 31 December 2019. Entrate carries out checks on the possession of the requisites by the taxpayers concerned, reporting the tax codes that remain out for exceeding the income requirement, and by 30 September will give the go-ahead for cancellation. The collection agent will automatically arrange for the Excerpt; the taxpayer will be able to verify that the debts have been canceled by consulting his debt situation in the manner made available by the collection agent. The payables subject to the Extract are all automatically canceled on 31 October 2021.