Tax: from the moratorium to the home, the news under consideration in the April decree

Work is underway on a broad suspension of tax responsibilities, an exemption for first-time homebuyer bonuses, and a moratorium on late-payment penalties.

Beginning with conciliatory notices, a more widespread suspension of payments and tax responsibilities will be implemented. Non-residential properties will be eligible for the rental bonus. Which might mean hotels, warehouses, and professional offices in English. However, a moratorium on the letting of bars, restaurants, and pizzerias has been proposed. Among the speedy reimbursements from model 730, the potential of incorporating workers who have lost their jobs owing to the health emergency caused by the coronavirus or as a result of containment measures is also being investigated.

These are only a few of the initiatives under consideration in the “April decree,” which was the subject of a long majority meeting on Tuesday at the Ministry of Economy to define the expanded area of involvement in support of families, workers, self-employed people, and companies. For example, the extension and lengthening of the redundancy fund in derogation, as well as the emergency income, which is meant for individuals who are unable to work, and a so-called “light” income to be acknowledged to illegal workers, are all steps in this direction. The VAT numbers, on the other hand, will be able to continue to request a bonus – application deadlines will open tomorrow – which, according to the early hypothesis, would increase from 600 to 800 euros.

Suspension of obligations

The chapter on suspensions of commitments and tax payments will almost definitely be strengthened in the April order. In addition to what was expected on Sunday, March 29 with the extension of deadlines to April and May, including quarterly VAT, the suspension of conciliatory notices is among the new arrivals. In this way, the Cura Italia decree’s paradox is resolved, when, for example, a debtor is stopped from payment bills and instead those who have been “amicably” notified by the tax authorities, are summoned to the cashier even before the assessment is done.

First home bonus

Another future derogation, the so-called first-home incentive, was already revealed in the Faq published on the Mef website on Friday, March 27. In essence, the two-time requirements linked to tax breaks for those who buy a property to be used as a first home are blocked, namely, 18 months in the event of a change of residence from municipality to municipality, or 12 months granted by the tax authorities to avoid losing the VAT concessions and register in the event of a sale and repurchase of the property.

Delays in payments

Minister Gualtieri proposed the introduction of a moratorium on penalties for late payments on obligations or payments. While working on the delivery and sending of single income certifications, the terms of which expired on March 31, as envisaged by the Cura Italia decree currently being considered by the Senate, a provision could be reached that would give legal coverage to “causes of force majeure,” allowing for the suspension of sanctions.

The rental bonus for commercial, economic, and professional operations is another topic that needs to be addressed in light of the many requests the Mef has received in recent days. Only leases of properties designated C1, such as stores and shops, are now eligible for a 60 percent tax credit under the new law. The majority and technicians are presented with the hypothesis of an expansion to non-residential properties, beginning with tourism properties such as hotels, but also include company warehouses, professional studios, and rental cases. On the basis of available resources, the bonus rate and reference audience drop point will be determined in the following days.

Consumer credit

The April order will also attempt to fill up some of the holes left by the decree issued in early March. For savers / consumers who have resorted to types of consumer credit, possibly even with the assignment of a fifth of their salary or pension, there is no guarantee or moratorium on accruals in the Dl Cura Italia, for example. According to the latest Bank of Italy figures, there were loans of this type worth over 111 billion euros at the end of January: 3 have a one-year maturity, 34 have a three-to-five-year maturity, and 74 have a maturity of more than five years. In January, the interest rate on these loans, which are sometimes required to deal with less-than-expected spending, was 7.96 percent.
The problem was raised by Carlo De Masi, president of Adiconsum: “We asked the government to introduce provisions for the suspension of consumer credit and liquidity loans also for all those consumers objectively in difficulty with fulfilling the payment of installments” .

Opening of construction sites

The opposition asks for the opening of construction sites again at a meeting with Prime Minister Giuseppe Conte on Wednesday. On this front, the regulation devised for the March decree, under which the Government can designate between 10 and 12 commissioners to begin construction of the 25 works the Executive considers a priority, could be saved. The majority is debating whether or not to allow the commissioners the same powers as those granted for the construction of the Genoa bridge, or whether to grant an exemption to article 4 of the so-called unblock construction sites, as the rule currently created contemplates.