With the imminent deadline of 31 October 2024, smaller companies and professionals are called upon to consider joining the Biennial Composition with Creditors. Introduced by Legislative Decree 13/2024 and subsequently updated with Legislative Decree 108/2024, the agreement provides for adherence to the proposal for business income and self-employment formulated by the Revenue Agency. To this end, from 20 September approximately 2.7 million VAT numbers subject to ISAs will receive a notice in their tax drawer indicating the presence of a fiscal reliability meter resulting from the declarations submitted.
Holders of business income and self-employment who carry out business in Italy with revenues and compensation not exceeding € can access the CPB 5.164.569:
The regulation, although unitary, is differentiated for ISA subjects and for flat-rate workers taking into account the different characteristics of the two types of subjects, also in relation to the various information held by the Revenue Agency.
The taxpayer is free or not to accept the tax proposal which is relevant for the purposes of direct taxes and IRAP.
The agreement has no effect on the VAT obligations, which remain the ordinary ones envisaged. The agreed income has effect for social security purposes, without prejudice to the possibility of paying contributions on the actual income, if this is higher.
Acceptance of the proposal also binds the members or associates of entities under the tax transparency regime to respect the agreed income.
The Legislative Decree 5.8.2024 n. 108 has partially modified the provisions of the composition with creditors regarding:
The following causes of exclusion for ISA subjects are added to the failure to declare in one of the three previous years (2021-2022-2023) and conviction for crimes, false corporate communications and money laundering/self-laundering:
The agreement ceases to be effective in the tax period in which the taxpayer changes the activity carried out (applicable ISA change), in the agreed two-year period compared to the previous period, or ceases the activity.
In addition, for the taxpayer subject to an ISA, termination is envisaged in the event of adoption of the flat-rate regime, implementation of an extraordinary operation and revenues or compensation exceeding €7,746,853. For the person in the flat-rate regime, however, termination is envisaged in the event of revenues or compensation exceeding €150,000.
The tax advance will be calculated for ISA subjects with the historical method by increasing the greater income or VAP IRAP agreed by 10% or 3% respectively. For taxpayers in the flat-rate regime, however, the agreed-upon higher income will be increased by 10% or 3% for start-up flat-rates.
For the agreed years, the application of an incremental flat tax is envisaged on an optional basis on the highest agreed income applied on the difference between the agreed income and that declared for the previous tax period (2023).
In the case of ISA subjects, the substitute tax is differentiated in relation to the ISA score.
ISA score
Rate applied
Lower than 615%Equal to or greater than 6 and less than 812%Equal to or greater than 810%
In the case of a flat rate regime, the substitute tax is equal to 10% or 3% for start up flat rates.
Among the new features is also the postponement to 31 October, i.e. within the deadline for submitting the tax return income, to join the proposal in the first year of application.
The extraordinary measures adopted to deal with the "COVID 19" health emergency, while not interfering with private legal relationships, could affect (or have already affected) the ability to express…
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