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The entry into force of Legislative Decree 24/2023 modifies the legislation on "whistles"

What is meant by whistleblowing

Whitleblowing literally means "reporting of irregularities" or, using the journalistic term, the activity of the so-called “whistle”: is the regulation that provides for the process of reporting corporate irregularities. In short: we refer to employees in the public and private sectors who, due to their employment relationship, become aware of company irregularities and decide to report them.

The regulation, which entered Italian legislation in 2017, today undergoes important changes that rationalize the processes and further contribute to the protection of the whistleblower.

Let's see how.

News on whistleblowing

The Legislative Decree. 24/2023, in transposing EU Directive 2019/1937, introduced a structured regulation aimed at guaranteeing the protection of "informants/reporters or whistleblowers", i. And. people who report violations of national or European Union regulatory provisions, which harm the interest or integrity of the public administration, or private entity, of which they became aware in a work context.

Informants are all company employees (full time, part time, temporary, etc.), including those on a probationary period or terminated, para-subordinates and collaborators.

Violations and areas of application

The violations may consist of administrative, accounting, civil or criminal offences, illicit conduct pursuant to the Legislative Decree. 231/2001 or violations of the organization and management models, and offenses that fall within the scope of application of regulatory disciplines of European Union or national acts.

The violations concern the following sectors:

• Protection of privacy, protection of personal data and security of networks and information systems;
• Public health;
• Consumer protection;
• Public procurement;
• Food and feed safety and animal health and welfare.

Types of Whistleblowing

The Legislative Decree. 24/2023 provides that reports can be made through three different progressive and subsidiary reporting channels:

• internal
• external
• public disclosure

Companies and organizations must establish and publicize internal reporting channels and protect the personal data thus collected.

The legislation in question applies, in the private sector, by 15 July 2023 to companies that - in the last 12 months - have had over 249 employees and by 17 December 2023 to companies that - in the last 12 months have had at least 50 employees or, without size limits, that carry out activities in the financial sector or that have adopted an organizational model Legislative Decree 231/2001.

Failure to comply with the aforementioned regulatory provisions entails the application of financial penalties of up to 50,000 euros.

Whistleblowing: a real cultural change

Beyond the regulations and technicalities just listed, it is important to underline two aspects: on the one hand, thanks to the discovery of crimes and irregularities of different nature, every organization - be it in the public or private sectorivated – can gain a competitive advantage, preventing the waste of resources and strengthening the internal security system, protecting oneself from possible threats or frauds by anticipating them before they can lead to more significant damage.

On the other hand, it is undoubtedly true that this type of activity poses a series of questions of a social and cultural nature, difficult to review in the medium-long term, but fundamental to give our companies the possibility of making a change of pace.

News on the possible reform of the Flat Tax which could change the face of Italian taxation

by Federico Valenza

The flat tax continues to be a topic of political debate and work on tax reform for its extension continues. In reality, the contours still appear unclear but it has been mentioned since the beginning of the legislature as an objective to be achieved within the project to review the tax system and to be implemented gradually.

Flat tax within the legislature

Maurizio Leo, deputy minister of Economy, declared, in an interview with the newspaper La Stampa on May 30, that "there is a project, shared by all the political forces that won the elections, which aims toreduce the tax burden".  The deputy minister states that the flat tax will arrive by the end of the legislature, while the first step is scheduled for next year with the reduction of Irpef rates and the cutting of the tax wedge. 

As reported by Sole24Ore, the flat tax is currently used by around 2 million professionals, self-employed workers and entrepreneurs who join the flat-rate regime of VAT numbers, causing lost revenue in public accounts for a total amount of 3.5 billion. As illustrated in our previous article on the topic, the Italian legal system already has other flat taxes which show a fiscal erosion of around 4.8% for 2022.

Over the years, in fact, the replacement tax regimes have gradually increased, undermining, according to the Court of Auditors, the principle of all-inclusiveness of the tax base envisaged by article 51 of the Consolidated Law on Income Taxes (TUIR). To give an example, the incremental flat tax for VAT holders who do not apply the flat rate and the replacement on tips collected through the employer and intended for waiters and other workers in the tourism sector.

The delegation for tax reform thinks about the flat tax, not only in terms of income outside the Irpef to be taxed with a fixed or proportional tax but also in terms of redefinition of the Irpef. In particular, a reduction in the number of rates is being discussed, with the final objective of a single proportional rate, in a system of deductions and deductions, which should guarantee the progressiveness of the levy. From this perspective, the first step, mentioned by Deputy Minister Leo, could include an initial reduction in Irpef rates from four to three or a further replacement levy on thirteenths, already in the 2024 Budget Law.

Reform in the summer?

The enabling law on the 2023 tax reform, for which the government hopes to have the green light in the summer, provides for the extension of the flat tax to professional associations, companies between professionals, partnerships and family businesses made up of a maximum of three professionals under 35 years of age, with a revenue ceiling set at 85 thousand euros and a tax rate of 15%.

Among the proposals shared between the majority forces and the executive, the main one concerns reduction of IRPEF rates to three. The current IRPEF system is based on four different rates for four income brackets and has been in force since 2022.

The first concrete step of the reform should be the transition to a three-rate system. However, the long-term objective is a "transition of the system towards thesingle tax rate, through the reorganization of deductions from the tax base, income brackets, tax rates, deductions from gross tax and tax credits, taking into account their purposes", according to the basic principle established in the text of the delegation approved by the Government.

The gradual reduction of the rates would not ensure that the income currently taxed with the replacement rates is included under the Irpef. In fact, as reported by the Parliamentary Budget Office, "it is not clear whether the taxable baseof the Irpef will include sources of income that over time have been excluded from its application and subjected to replacement regimes, generating problems of horizontal equity".

There is therefore a tendency towards greater "copay" taxation, in order to avoid the same 100 euros of income being taxed at 5, 10, 26 or 43% depending on how they are obtained.

Comments on the flat tax from Italy and Europe

The flagship of the League, which has become the objective of the legislature, has recently received new rejections from the Bank of Italy, the European Commission and the Parliamentary Budget Office.

In the analysis presented by the Bank of Italy, at a hearing at the Finance Commission of the Chamber on 18 May, it is underlined that the central consequence of this model would be the increase in disparity and inequality. Bankit, therefore, assesses this model as not suitable both for the current Italian system and on the basis of the analysis of data from those countries that already adopt it.

The document drawn up by the European Commission invites the government to make the tax system more efficient, "preserving progressivity[...]and improving its fairness, in particular by rationalizing and reducing tax breaks, including VAT and subsidies harmful to the environment".

Finally, according to the findings of the Parliamentary Budget Office, the transition from the current Irpef brackets to a single rate progressivity scheme "determines redistributive effects thatpenalize subjects with average incomes and favor those with higher incomesunless a high share of revenue is renounced".

The word goes to Parliament

The Council of Ministers of 16 March 2023 approved, with an emergency procedure, the bill authorizing the Government to reform the tax system and now has 24 months to issue one or more legislative decrees to review the tax system.

After the go-ahead from the Council of Ministers, the parliamentary approval process was officially set in motion, starting with the discussion of over 600 amendments in the Chamber commission.

It therefore remains to be seen whether and what changes will be made to the reform idea presented and whether there will also be interventions to reorganize the current replacement regimes.

Given that tax reform appears to be extremely necessary today, however, a question remains: is the flat tax really the best solution?hours that we can imagine in this country?

The positive trend of the economy and the constant problem of inflation and debt

by Gianni Malerba

Let's pick up where we left off last time when talking about inflation: in the article "Inflation doesn't stop" we took stock of the impact of the gas crisis on prices and their effects, in particular, on the shopping carts of Italians. It was September 28, 2022, just a few days before the political vote, with all the physiological doubts that this had entailed.

A lot has changed since that day, of course, but what we can well consider the Italian Sword of Damocles always remains: inflation, the problem that all governments have always faced, and the resulting public debt.

Fitch's rating, Moody's expectations

"The growth of the Italian economyexceeded our expectationsin the first quarter of 2023, recovering sharply to 0.5% q/q [...] thanks to the significant easing of the natural gas crisis in Europe, a strong rebound in tourism and strengthening global demand". These are the words that accompany Fitch's rating which assigns Italy a BBB, also adding that "in 2024 we expect the economy to expand by 0.8%". It seems that the Government's efforts are appreciated by the markets who have chosen to place their trust in our country.

We will have to wait a few days before understanding what the judgment of Moody's, the traditionally strictest rating agency towards our country, will be, but it is already possible to make a positive assessment of Italy today. Undoubtedly, the Next Generation EU funds towards our country (the so-called PNRR) also contribute to this result, as well as the fact that Italy is part of the EU Economic and Monetary Union which, in some way, acts as a guarantee.

One of the most interesting aspects that contributed to Fitch's rating is the stability of the Government, whose majority is large and consensus among citizens is high. What does this mean for the Italian economy and the markets' gaze on us? In short, that this Government could last an entire legislature, carrying forward its decisions without a forced stop and the consequent blocking of governmental and legislative action. This is certainly another point in favor of our economy, but then where does this Sword of Damocles come from? Why, in short, despite many positive factors, does the Italian rating remain at BBB?

Inflation, public debt and burden on businesses

In the face of greater stability in the banking system, companies are almost exhausted, due to galloping inflation (which impacts in the short term) and a consequent increase in public debt (which impacts in the medium-long term).

According to EURISC - CRIF Credit Information System, in the first quarter of 2023 the credit demand presented by Italian businesses suffered a sharp slowdown: -3.6% compared to 2022. The increase in inflation increases the cost of money, which therefore businesses can no longer afford. The words of Simone Capecchi, Executive Director of CRIF are, from this point of view, illuminating: “if families can decide to postpone a credit request until interest rates have decreased,land businesses have non-deferrable costs and a permanent need for liquidity".

Even more worrying is the default rate, which is growing compared to previous years. Businesses borrow less money and when they do they are more likely to fail to repay credit institutions.

Here is the vulnerability, the Sword of Damocles: short-term policies, capable of controlling gas prices, for example, and obtaining positive ratings from agencies, will never alone be able to help our country run together with its natural engine, i.e. businesses. It is these, especially SMEs, who must look towards medium-long term policies, to be able to be competitive and in this way block inflation and try to block public debt.

The tools to support businesses in the medium-long term

On the one hand the CNC, the Negotiated Settlement of the Business Crisis, to name a tool. We have talked about it at length on our blog, it is worth reading the latest update article on this topic: PNRR, Telematic Platforms and CNC. It is important, in this context of "return default", to consider a tool capable of accompanying the company in the least traumatic way possible for the system, to keep the market standing and not generate a systemic crisis of the production sector.

But in addition to this tool, the other great opportunity is, obviously, sustainability. Beyond the more immediate tools that have now entered our system (see the tax credit, which you can read in this article), sustainability and ESG criteria are the most suitable tools to give a vision of the future in the medium-long term to businesses, to generate value and make it grow exponentially over time. To have a more general vision of the advantages of sustainability, in particular for SMEs, it is worth rereading our previous article here.

But then, if the real problem of our country is not today, the crises that follow one another and to which we can put a stop, albeit temporary, but a structural public debt and inflation that we have been carrying with us for a long time, then why do we continue to invest only in short-term solutions without instead considering medium-long term interventions as investments in sustainability could do?

Otherwise, we will have to evaluate the hypothesis of never freeing ourselves from our Sword of Damocles due to the lack of courage in investing in the future.

by Alessandro Malerba

The so-called flat tax aims to eliminate the current four Irpef rates and the related income brackets, introducing a single rate for all taxpayers, but the proposal of the three parties of the centre-right coalition are different in terms and timing.

League

It is the proposal defined as the "most extreme", introducing a single rate equal to 15% for everyone, individuals and companies, to be reached according to a gradual process in three steps, namely:

1. A first extension of the flat rate regime for self-employed workers up to a turnover of 100,000 euros;
2. Secondly, the application of the flat tax on the income of businesses and families (employee work, taking into account the family quotient) up to 70,000 euros;
3. Finally, (over the five years) the extension to all incomes for work and business without any roof.

In order to protect the so-called principle of proportionality of the tax ex art. 53 of the Constitution, this proposal also provides for the introduction of two brackets: from 0 to 35 thousand euros and from 35 thousand to 50 thousand euros for which a fixed deduction equal to 3,000 euros is introduced: the deduction applies to both families and singles for taxpayers in the first bracket while for incomes equal to or greater than 35,000 euros it is only available to family members load.

In the flat tax system proposed by the League, the progressivity of the tax on the incomes concerned is implemented with the system of deductions, rather than with rates, while the system of total exemption for the lowest incomes would remain unchanged: there is currently talk of a "no tax area" for incomes up to 7,000 euros.

Forza Italia

According to Silvio Berlusconi's party, however, the flat tax should be set at 20%, with a tax exemption for incomes up to 12,000 euros and, also in this case, with systems of deductions and deductions for families and low incomes.

Brothers of Italy

The emphasis given to the flat tax by Giorgia Meloni's party is much less than that of its coalition partners, making it a minor proposal in the electoral programme. The approach is well framed by the prof. Maurizio Leo (head of the economics and finance department) who in a article published in La Repubblica writes in an even simpler way: “on everything that is declared in excess (work and business income) compared to the previous one, you will pay less taxes and, in particular, only 15%. The 15% taxation concerns only the year in which the increase in income is achieved, while it would not make sense to carry the benefit into subsequent years, if not in relation to any further increases". According to prof. Leo, therefore, it would be a sort of "national productivity bonus", or even "a stimulus, temporary although decisive, to get up from the sofa, to get busy, toimprove for oneself, for one's family and for the country".

The proposals of Lega, FI and FdI, as seen, are different from each other, but are based on a ccommon concept: by lowering the tax burden on income (business, self-employment and employee) under equal conditions, less tax evasion will be achieved, greater boost to the economy and tax revenue that will not be excessively penalised, but to implement this plan, to date, a requirement of around 13 billion euros is estimated, partly obtainable from a more efficient management of tax expenditure (68 billion in 2021). 

Flat tax: advantages and criticisms

Understanding what the flat tax is is much easier than analyzing what the advantages and disadvantages of the introduction of taxation at a fixed rate of 15% or 20% could be.

According to the proponents of the proposal, even considering the differences between the flat tax formulas described, the main advantages would be three:

• reduce the tax burden for both families and businesses;
• counter tax evasion;
• simplify the system by rationalizing the current deductions.

The major criticism made by the centre-left groups (Democratic Party first and foremost) is that the flat tax in Italy would mostly bring disadvantages: the cons of introducing a flat tax would belesser revenue for the State, but also the risk of advantaging the richest and, therefore, of introducing a law high risk of unconstitutionality.

The flat tax in Italy: a measure already implemented

What is often not underlined is that the flat tax already exists in our system: more correctly referred to as the "extended flat rate regime", it was introduced for the first time with the 2015 Budget Law (Law number 190/2014).

The current flat tax is operational only for taxpayers with a VAT number in flat-rate regime, or within a subsidized regime without IRPEF, additional, VAT, IRAP and not subject to sector studies or ISA. With the 2019 Budget Law, the turnover limit up to which it is possible to operate was raised for all taxpayers operating in the (subsidized) flat-rate regime, and is equal to 65,000.00 euros regardless of the type of activity carried out.

A profitability coefficient is applied to the turnover and then multiplied by the revenues/compensations collected in order to obtain the tax income. The current flat tax is therefore applied to this income, which can be:

• 5% for new activities;
• 15% for already operational activities.

The flat tax is not only the protagonist of the electoral campaign, but was one of the central proposals of the discussion on tax reform, with some news regarding VAT numbers.

Thedelegation law approved by the Chamber, which remained onstandby in the Senate due to the Government crisis, in fact provides for the introduction of a new facilitated tax regimefor VAT numbers.

The flat tax for lump sums up to 65,000 euros is accompanied by a new replacement regime for those who exceed the limits, aimed at gradually accompanying the company or professional towards the ordinary IRPEF. According to the contents of the enabling law, the flat tax “extra” would be applied for the two tax periods following the transition from the flat rate regime to the ordinary IRPEF regime. A provision that brings to mind theflat tax project incremental up to 100,000 euros, provided for by the 2019 Budget Law (strongly supported by the League), but abolished before even coming into force in 2020. As part of the tax reform, there was therefore further talk of a flat tax, and specifically of a slide for those who left the flat rate.

Flat tax: nothing really new

It is correct to say, therefore, that the proposal for the new flat tax would not overturn the current tax system, considering that the single rate is already widely used (for example, on financial income to which a fixed rate of 26% is applied, on rents earned by natural persons but also on business income, the IRES, equal to 24% or on performance bonuses at work at 20%).

Therefore, today, rather than the rate itself, the difference in terms of real taxation is made by the deductions and concessions to which taxpayers are subject in relation to their family or income status (Isee). The introduction of a system of lower rates aimed at taxing income from work (employee and self-employed) in a flat manner, at least within certain limits and taking into account family coefficients, would not cause particular upheavals in the overall revenue, perhaps eliminating some non-rational deductions beyond certain income brackets and favoring fiscal equity from a family unit perspective.

Recalling a recent article by Marco Miccinesi, published on IlSole24Ore, today, in fact, with the same overall employee income  within certain amount limits (e.g. 50,000 euros with a dependent child), a single-income family pays approximately double that of a two-income family; with the application of the flat tax “ the taxation of the single-income family would come closer  very much to that of the two-income family, finally eliminating the current discrimination between families. single-income and two-income ones; discrimination that appears  completely unjustifiedin light of the unity of the family unit whose incomes are used on the basis of the choices made together by the spouses and for the satisfaction of the exact same needs, both in single-income and two-income families."

The challenges of the Government after the September 25 elections

What is certain is that the ball will now pass to the new Government that will be formed following the political elections on 25 September 2022, which will have the task of restarting the discussion on the reform of the tax system. The advantages and disadvantages of the flat tax, and its possible extension not only to businesses but above all to families, will therefore also be discussed in the coming months.

How to create value that lasts over time

By Gianni Malerba

For companies, sustainability is no longer just a regulatory obligation (even for SMEs) but also an advantage. The data proves it

+21%

EBITDA margin between 2017 and 2020

(Source: Accenture analysis; Arabesque S-Ray; S & European Union) 66% consumers willing to pay more for a responsible brand (sources: Coop Report 2019 / LifeGate observatory / Nielsen "Global survey of corporate social responsibility and sustainability" - Synoptic) The choice of a sustainable strategy for companies does not only directly increase profit, but has a positive impact on market positioning Let's see how. When is a company defined as sustainable? "Being socially responsible means not only fully satisfying the applicable legal obligations, but also going beyond investing "more" in human capital, the environment and relations with other interested parties". This is the definition of Corporate Social Responsibility (or CSR, Corporate Social Responsibility) according to the European Commission (GREEN PAPER - Promoting a European framework for corporate social responsibility). In general, being sustainable means not only the fulfillment of legal obligations but also the company's ability to fit into the socio-economic contextthe success of a company Do you want to know how to evaluate your company or start-up and manage it in a sustainable way? FIND OUT HERE Currently the choices of consumers Do you want to know if your company is in line with legal obligations? LEARN MORE The advantages of sustainability for an SME In addition to the numbers already listed, it is also possible to outline some aspects of qualitative management in which the advantages of sustainability are more than evident: 1. Reduction of waste Sustainable production models and processes can make work systems more efficient, reducing time and resources that would otherwise be wasted. The reduction in costs resulting from the revision of production models immediately impacts the company's profit, generating economic advantages. 2. Added value of the product or service 66% of consumers are willing to spend more to purchase sustainable products However, be careful of the phenomenon of green washingdisadvantage on the market If you want to know more about the green washing phenomenon, click here 3. Increased production If customers and the market appreciate sustainable companies and purchase their products to a greater extent, it means that sustainable companies produce and sell more An Ipsos survey (2021) shows that people want to live an increasingly sustainable existence and take concrete action to protect the environment. If you have not been sustainable over the years and have suffered negative consequences on your production, click herehere 4. Increase in employment and selection of the best personnel Greater productivity not only impacts profit but also on personnel, that is, on the human resources that create the products: more production means more personnel needed. But not only that: having a good "fame" as a sustainable company not only attracts more customers but also more qualified people In this way you will have greater control over your employees and collaborators, being able to select the best resources for your company. 5. Improvement of consideration by the financial and public markets Collection and transactions on better conditions provided by credit and insurance institutions  Incentives for investments relating to issues of improving sustainability in companies (e.g. digitalisation, investments in eco-compatible technological systems, energy diagnoses, etc. Easy access to relations with the Public Administration. 6. Growth of corporate reputation A higher reputation, a consequence of a corporate sustainability policy that is not only communicated but also sincerely implemented, is able to attract not only more consumers but also the best partners, investors, suppliers and interested parties A sustainable company generates trust and the market has always moved by following the most reliable commercial entities. What today seems like just an investment (reviewing assets and business models, etc.), is in reality a strategy to enrich the company and launch it in the future. Malerba&Partners has been operating in business consultancy for years, giving companies the means to face today's challenges. Corporate sustainability is one of the aspects of greatest interest today, which is why we are in EFTILIA Malerba&Partners and EFTILIA help you live in the changing world. CONTACT US Read more q Lavoro EMERGENZA COVID-19: le tutele della cassa integrazione ordinaria, dell’assegno ordinario e della cassa integrazione in deroga EMERGENZA COVID-19: le tutele della cassa integrazione ordinaria, dell’assegno ordinario e della cassa integrazione in deroga The COVID-19 health emergency has led the central government to launch a series of income support protections for the suspension or reduction of work activity. And indeed the Legislative Decree Cura Italia,… Let's immediately clarify that the rules have not changed compared to previous years but with the advent of electronic invoicing it is necessary to revisit the topic to frame the operation in a daily activity such as that of recording purchase invoices. In the meantime, we would like to remind you that the terms for sending electronic invoices are different. Theimmediate invoice must be sent within 12 days of carrying out the operationdeferred invoice by on the 15th day of the month following the one in which the operations were carried out. Therefore, it is possible that a certain amount of time elapses between the "date displayed in the electronic invoice To be able to deduct VAT on purchase invoices, the invoice must be received and accounted for. The invoice date is therefore only one of the elements to be taken into consideration. The general rule on the deduction of purchase invoices As a general rule, invoices of purchases relating to the previous month, if registered by the 15th day of the following month, can contribute to the VAT settlement of the month in which the operation was carried out. If, however, they are noted after the 15th day, they contribute to the settlement of the month of registration. In practice, for example, I have to settle the VAT for the period of September, I receive an invoice dated 30 September in the SDI on 12 October, in which case I will be able to easily register this invoice by the date of October 15th but indicate during registration that I will deduct the VAT amount in the month of September. Otherwise, if I receive this invoice in the SDI after the date of October 15th, I will be able to deduct the VAT in the payment for the month of October (if registered by October 31st). Attention The rule for deducting VAT at the end of the year The general rule indicated above, by express provision of the law, it cannot be applied to invoices received at the end of the year, therefore it is necessary to pay close attention to the different cases. Therefore, to answer the question of how VAT is deducted from invoices received at the end of the year, it is essential to analyze the invoices received by distinguishing between: invoices received in the SDI and recorded in the month of December invoices received in the SDI in the month of January 2020 (dated December 2019)VAT settlement for the month of January 2020 invoices received in the SDI in the month of December 2019 not registered in December 2019possible to deduct VAT in the annual VAT return relating to the year 2019 invoices received in the SDI in the month of December 2019 and registered after 30 April 2020annual supplementary VAT declaration A situation that facilitates the recovery of VAT on invoices received in the SDI in the month of December but not registered in December is to create a specific sectional purchase register in which to record these documents, the deduction of which is permitted only by including the relevant VAT in the annual declaration. In practice, it will be sufficient in the IT management system to activate a new purchase register, naming it for example "Register purchases for VAT recovery in the annual return", and when registering the purchase invoices in question, merge them into this register, so that the related VAT deducted can be indicated as VAT credit only in the annual return. Read more q Corporate EMERGENZA COVID-19: sospensioni mutui e finanziamenti a favore delle PMI EMERGENZA COVID-19: sospensioni mutui e finanziamenti a favore delle PMI Among the various measures adopted to deal with the crisis, the Cura Italia Decree provides in art. 56 limits on the revocation of bank credit lines, the suspension of mortgage and leasing payments as well as the power… Financial support measures in favor of micro, small and medium-sized enterprises with intervention from the SME Guarantee Fund. The facilitation measure in question, introduced by art. 56 of the Legislative Decree 17 March 2020 n. 18 consists of an extraordinary moratorium, aimed at giving help to micro, small and medium-sized enterprises, with performing debt exposures (including loans, lines of credit, etc.), which communicate - with self-certification - to banking institutions or other financial intermediaries, that they have suffered a lack of liquidity as a result of the COVID 19 emergency. For existing loans, the relief measure provides that: credit lines granted "until revoked" and loans granted against advances on credits (both for the used and unused part) cannot be revoked, in whole or in part, until 09.30.2020; the repayment of NON-instalment loans with expiry before 09.30.2020 is postponed until the same date, under the same conditions. Any administrative burden for carrying out the operation remains the responsibility of the credit intermediary. Any additional guarantees will be automatically extended; for mortgages and other installment repayment loans, the payment of the installments or leasing fees due before 09.30.2020 is suspended until that date and the repayment plan of the installments or fees subject to suspension is deferred without any formality, according to methods that ensure the absence of new charges for both contracting parties. Companies can also request only the suspension of the repayment of the principal amount. How can I access these measures? The request for suspension must be presented to the bank providing the loan by completing the form made available to the institution and accompanied by all documentation proving the necessary requirements. Read more q Lavoro COVID-19 EMERGENCY: the allowances provided for self-employed workers COVID-19 EMERGENCY: the allowances provided for self-employed workers The Cura Italia Decree introduced, among other measures, some support allowances in favor of workers whose activities are being affected by the epidemiological emergency due to Covid - 19. This is… A method which, according to scholars and politicians, makes it possible to facilitate the positive management of work and family is that calledsmart working (literally "intelligent work"). It is a working system that allows the employee to enjoy greater autonomy in terms of working hours and workplace. Unlike the more well-known telecommuting, smart working does not require the work carried out outside the company environment to be carried out at home, thus freeing the employee to choose each time where to dedicate time to work. Furthermore, smart working is an aspect that can characterize work and not a type of contract, therefore it must be a voluntary choice of the worker and can be implemented even after the signing of the contract (and similarly interrupted without compromising the continuity of the working relationship). The effects of smart working on companies In Italy neither teleworking nor smart working have received consensus, although the results obtained by companies that have introduced these working methods are decidedly encouraging. The most significant result indicates that those who work outside of company spaces are more productive than colleagues who work in the office; as far as large companies are concerned, this discrepancy stands at around 35-40%. Furthermore, the data relating to absenteeism rates are reduced by 60%, thanks to the non-mandatory presence in the office and the consequent possibility of working remotely and wherever you prefer. In addition to these already positive results, an increase in job satisfaction must be considered which implies a lower probability of looking for a new job, therefore reduction in turnover levels and costs linked to the training of newcomers. According to a study conducted by the Smart Working Observatory of the Polytechnic of Milan, the implementation of the smart working system would allow Italian companies to increase in terms production costs equal to 27 billion euros and a decrease in fixed costs of approximately 10 billion euros, where fixed costs mean the expenses that a company must face regardless of production and the revenues derived from it, and which are linked to the purchase or rental of the property, work tools (PC, telephone) and the correct maintenance of the office spaces (electricity, water, heating/air conditioning). As mentioned, in Italy the companies that have decided to implement the practices suggested by smart working are decidedly few, this is because this step implies an important cultural change, a sort of revolution of the organizational culture that characterizes the companies of our country. With the introduction of smart working, in fact, it becomes necessary to reorganize the very idea of ​​an employee as a person who enters the office at a set time and leaves after (usually) 8 working hours, often tracking entry and exit by punching a time card. Work should be organized by objectives that the person is called upon to achieve, but leaving the employee to independently manage times and methods. It is therefore essential to clarify to what extent the worker can carry out his work outside the workplacethe company spaces, hypothesizing a sort of attendance calendar. Thanks to smart working, unlike teleworking, the employee is not excluded from company dynamics and therefore has the same information as colleagues who spend all 40 hours in the company. The benefits of smart working for workers The benefits that the introduction of smart working has for the company were previously illustrated, but what are those for the workers? According to some scholars, smart working would allow women to aspire to positions of responsibility and coordination of resources without neglecting family care. An example could be that of a woman who, upon returning from maternity leave, decides to take advantage of the smart working mode in order to stay at home with her child during the afternoon while continuing to go to the office during the morning, perhaps taking advantage of the moments in which her child is sleeping to proceed with work activities. Read more q Sostenibilità COVID19-Emergency: USA and the financial support COVID19-Emergency: USA and the financial support In virtue of the aid package enacted by the republican and democratic leaders of the Congress and signed last Friday by President Donald Trump, every single contributor who earns up to $75.000 will receive a… Employees, unemployed people, and self-employed workers can qualify, on the condition that they have submitted their own tax return for the fiscal year 2018 or 2019. Married contributors who submit their joint tax return and who earn up to $150.000 will receive $2.400, plus $500 for any eligible son. When will the cheques be issued? Those who have already submitted the tax returns for the fiscal year 2019 and opted for a direct deposit on their own current bank account will not need to do anything to get their refund cheque for coronavirus and they will receive it more rapidly, possibly within three weeks. For everyone else, the process could take longer, even if the treasury secretary Steven Mnuchin has announced on Sunday at the CBS that the White House would have created an electronic system for those who haven’t opted for a direct deposit on their own bank account in order to receive the cheque immediately. Even people without an income can benefit as long as they don’t fiscally depend on another contributor and as long as they have a valid SSN (Social Security Number). Nevertheless, anybody who did not submit the tax revenue for the fiscal year 2018 or 2019 are required to submit it for the year 2019, unless they don’t receive social security funds for veterans. The cheques will not be included in the taxable income and, therefore, no taxes on those amounts shall be paid at the end of the fiscal year, as it happens with other revenues. Those who are not American citizens, but dispose of a Social Security Number and live and work in the United States, including Green Card’s owners and those who conduct business in the virtue of the H-1B visa, have the right to receive the reimbursement check for the Coronavirus. Immigrants who are not authorized to work in the United States are not legitimized to receive the cheque in question. The inadmissibility applies also to who pays taxes utilizing what is known as Individual Taxpayer Identification Number, or ITIN, who pay about $11,74 billion in state and local taxes every year, according to the Internal Revenue Service, or IRS. The IRS generates those numbers to process tax payments made by a few individuals who cannot obtain a Social Security Number. Read more q Fiscale Covid-19 emergency: financial assistance to small and medium-sized companies Covid-19 emergency: financial assistance to small and medium-sized companies The American Government helps small and medium-sized companies with less than 500 employees providing them a $10,000.00 loan that will not have to be fully paid back. The U.S. Congress has done something unprecedented in terms of direct financial assistance to small and medium-sized companies. In response to the Coronavirus pandemic (COVID-19), small businesses’ owners all over the U.S. who are in good standing with the U.S. Small Business Administration (SBA) and the Internal Revenue Service (IRS) may be eligible to request a loan for the economic emergency, known as the Economic Injury Disaster Loan, which covers a down payment up to $10,000.00 designed to be provided to the business without a full repayment obligation. This down payment represents a financial aid to businesses with less than 500 employees (among which sole proprietorships, independent entrepreneurs and self-employed workers), non-profit private organizations or organizations within the meaning of section 501(c)(19) of the tax code, which are currently recording a temporary loss of income due to COVID-19. This prepayment will be made available in the business’ bank account within THREE DAYS after the submission of the request that was successful and it will not have to be returned on the condition that the funds are employed to pay the wages of the employees, to pay sick leave, to face potential higher production costs due to disruptions in the supply chain or to pay back business’ debts, rent fees, and mortgages. Furthermore, the loan program for the economic emergency offers small businesses capital loans up to $2 million, with an interest rate of 3.75% for 30 years. This loan is subject to specific conditions and it will request personal and businesslike financial information of the last 2-3 years. Read more q Legale COVID 19 and SATISFACTORY DEPARTURE COVID 19 and SATISFACTORY DEPARTURE Visitors who are currently in the United States and cannot fly back to their home country are allowed to request a period of “Satisfactory Departure” for a maximum duration of 30 days during which they can r… Usually, visitors who are admitted to the United States in accordance with the Visa Waiver Program (“VWP”) or Electronic System for Travel Authorization (“ESTA”) cannot change or extend their status of permanence in the United States over the 90 days granted by the program. However, according to the federal legislation, if a major emergency prevents a VWP/ESTA visitor from leaving the United States within the authorized period of permanence, it is possible for them to request a period of “Satisfactory Departure” for a maximum duration of 30 days, on the condition that the interested person submits their own request before the expiring date of the period of permanence granted in virtue of the ESTA. According to the legislations of reference, the period of Satisfactory Departure can be permitted by the immigration service (USCIS) or by the Customs and Border Protection (CBP). Considering that USCIS offices are currently closed, starting from March 16th, 2020 CBP started giving few travelers who are not able to leave the United States within the deadline of the period of concession due to problems related to COVID-19 the opportunity to submit the request of Satisfactory Departure directly to the Deferred Inspection Office of the international airports. In the request, those interested have to provide their name, their date of birth and the details of their passport. The competent office can moreover request the itinerary of the original departure flight together with the new flight itinerary. Furthermore, generally speaking, it is possible to request the period of Satisfactory Departure whenever the period of stay in the United States is expiring within 14 or fewer days since the day when the applicant contacts the Deferred Inspection Office. If the period of permanence allowed by the ESTA has expired, the decision will be taken case by case.  The CBP has started processing the requests of the Satisfactory Departure submitted by the travelers who have been admitted to the United States from the John F. Kennedy (JFK) international airport and from the Newark Liberty (EWR) international airport, although the list is still growing. In accordance with the Deferred Inspection Office of the Miami International Airport (MIA), each request is analyzed and decided case by case. Read more q Terzo Settore COVID – 19 e Credito d’imposta sanificazione: entro il 7 settembre l’invio della comunicazione all’Agenzia delle Entrate COVID – 19 e Credito d’imposta sanificazione: entro il 7 settembre l’invio della comunicazione all’Agenzia delle Entrate As is known, the so-called “Relaunch Decree” introduced specific benefits linked to expenses incurred for: - the adaptation of working environments linked to the containment of the spread of COVID-19 - the… The tax credit for the costs of sanitization and purchase of protective devices is recognized to the subjects carrying out business, arts and professions activities, non-commercial entities, including third sector bodies and civilly recognized religious bodies and is entitled to, in an amount equal to 60% of the expenses incurred in 2020 (for a maximum tax credit amount of 60,000 euros for each beneficiary), for the sanitisation of the environments and tools used, as well as for the purchase of personal protective equipment and other devices designed to guarantee the health of workers and users. The AdE circular 20/E/2020 specified that the sanitation costs, environments and tools, constituting ordinary expenses in relation to the nature of the activities carried out, and not therefore linked to the ongoing health emergency, also entitle the tax credit under consideration. The tax credit, therefore, may also be recognized against the expenses incurred, from 1 January to 31 December 2020, by the dental practices, beauty centres, etc., for the costs of sanitizing environments and instruments ordinarily incurred. In order to benefit from the tax credit in question, the prot. provision n. 259854/2020 requires the sending of a specific communication, by the beneficiary entity, to the Revenue Agency, of the amount of eligible expenses incurred and expected to be incurred by 31 December 2020. The communication must be sent from 20 July to 7 September 2020. The reason for this provision lies in the fact that the maximum amount of the tax credit that can actually be used will be equal to the tax credit requested multiplied by the percentage made known by order of the director of the Revenue Agency, to be issued by 11 September 2020. Only from the working day following the publication of the measure the tax credit can be used as compensation using the F24 form. Alternatively, the tax credit can be used in the tax return relating to the tax period in which the expense was incurred, or, until 31.12.2021, it can be transferred to third parties, by submitting a specific communication to the Revenue Agency. Read more q Lavoro CIGO, CIGD AND ORDINARY ALLOWANCE pursuant to Legislative Decree 104/2020 (August Decree): INPS provides employers with instructions for the use of a further 18 weeks. CIGO, CIGD AND ORDINARY ALLOWANCE pursuant to Legislative Decree 104/2020 (August Decree): INPS provides employers with instructions for the use of a further 18 weeks. INPS intervened to provide the first indications regarding the management of new applications for CIGO, CIGD, ordinary allowance and CISOA in light of the innovations introduced by the August Decree. Article 1 of the August Decree provides that employers who, during 2020, suspended or reduced work activity due to an event attributable to the COVID-19 epidemiological emergency, may request a period of ordinary redundancy fund, ordinary redundancy fund or redundancy fund in derogation, for a duration of: maximum of 9 weeks, increased by a further 9 weeks subject to certain conditions. Please note: The total 18 weeks must fall within the period between 13 July 2020 and 31 December 2020. The INPS confirms that employers can access the new period of salary integration treatments (9 + 9 weeks), "regardless of the use of social safety nets for the periods up to 12 July 2020". In other words, even employers who have never submitted an application for salary integration due to COVID-19 can request periods of salary integration pursuant to the August Decree. Once the first 9 weeks have been requested and authorized and the relevant period has expired, employers will only be able to use the additional 9-week period, according to the conditions set out in the law, without being able to request any period not used in full relating to the first 9-week tranche. Regarding the methods of submitting applications for CIGO, CIGD and ordinary allowance, as anticipated with Message no. 3131/2020, INPS confirms the system of the August Decree and proposes the mechanism of sending two distinct applications to request income support. In particular, for related requests for the first 9 weeks, or the shorter period resulting from deducting the periods already requested or authorized pursuant to the previous legislation starting from 13 July 2020, employers continue to use the "national COVID-19" reason already in place; the additional period of 9 weeks, which can be requested exclusively by employers who have been fully authorized for the previous period of 9 weeks and provided that the aforementioned period has elapsed (therefore starting from 14 September), employers must submit an application using the new reason "COVID 19 with turnover". The applications must be sent, under penalty of forfeiture, by the end of the month following the month in which the period of suspension or reduction in work activity began. Read more q Fiscale Legislative Decree Ristori: summary of the main measures adopted on the fiscal level Legislative Decree Ristori: summary of the main measures adopted on the fiscal level The Legislative Decree 28.10.2020 n. 137, issued by the Executive under the name of "Ristori Decree", provides for a series of aid in favor of the sectors affected by the restrictions imposed by the Prime Ministerial Decree of 10.24.2020: here is a… Additional non-refundable contribution to be allocated to VAT operators in the economic sectors affected by the new restrictive measures The Legislative Decree Refreshments, in the wake of the benefits already granted under the Legislative Decree. Relaunch, proposes the disbursement of a non-refundable contribution, calculated according to the instructions already provided in the past - and indeed on the condition that the amount of turnover and fees for the month of April 2020 is less than 2/3 of the amount of turnover and fees for the month of April 2019 - only in favor of subjects who as of 25.10.2020 have an active VAT number and who declare to carry out as the main activity one of those referring to the ATECO codes affected by the restrictions referred to in the Prime Ministerial Decree of 24.10.2020. Suspension of INPS and INAIL payments for company employees belonging to the economic sectors subject to restrictions. For private employers carrying out activities included in the restrictions imposed by the Prime Ministerial Decree of 10.24.2020, payments due for the month of December 2020 (November 2020) are suspended and relating to: social security and welfare contributions (INPS); premiums for compulsory insurance (INAIL) Suspended payments must in any case be made in a single payment by 03.16.2021. However, the possibility of paying the amounts in 4 equal monthly installments is recognized, with the first installment always starting from 03.16.2021, without the application of penalties and interest. Cancellation of the second IMU instalment The Legislative Decree Ristori provides for the cancellation of the second IMU instalment, concerning the properties/appurtenances in which the activities subject to restrictions and cited in the Prime Ministerial Decree of 10.24.2020 are carried out, provided that the owners are also managers of the activities carried out there. Additional rental tax credit A specific tax credit is provided for companies operating in the sectors subject to restrictions introduced under the Prime Ministerial Decree of 24.10.2020, regardless of the volume of revenues and compensation recorded in the 2019 tax period and based on the amount of the monthly rental/rental fee of the company for non-residential properties used to carry out the business. The benefit in question is available under the conditions that the taxpayer in question reports a loss equal to at least 50% of the turnover relating to the month covered by the benefit, when compared with the same monthly salary of the previous financial year and is provided for: in the amount of 60% in the case of rental contracts for properties for non-residential use; in the amount of 30% in the case of company rental contracts, including at least one property for non-residential use intended for carrying out the activity itself; Read more q Fiscale DL Ristori-bis: sospensione versamenti tributari e previdenziali, ma NON per tutti! DL Ristori-bis: sospensione versamenti tributari e previdenziali, ma NON per tutti! The Legislative Decree 09.11.2020 n. 149, among other prescribed measures, introduced the possibility of postponing the deadlines for tax and social security payments expiring in the months of November to 16.03.2021 and says… The decree law 09.11.2020 n. 149, so-called "Ristori-bis", among other prescribed measures, provides the right to defer to 16.03.2021 the deadline for the payment, due in the months of November and December 2020, of: Withholding taxes made on income from employment and similar (not on income from self-employment) and withholdings relating to the regional and municipal surcharge, made by taxpayers as withholding agents; VAT periodic; Social security and welfare contributions (no INAIL contributions) The aforementioned deferral, however, is not applicable without distinction to all taxpayers, but only to:  taxpayers who carry out economic activities suspended pursuant to art. 1 of the Prime Ministerial Decree 03.11.2020, having tax domicile, registered office or operational headquarters in any area of the national territory (Annex 1 to the Legislative Decree); within the scope of Annex 2, attached to the Ristori bis Decree or which carry out hotel activities, tour operators or travel agencies which have tax domicile, registered office or operational headquarters in areas of the national territory characterized by a scenario of high or maximum severity and a high level of risk. Suspended payments must in any case be made in a single payment by 03.16.2021. However, the possibility of paying the amounts in 4 equal monthly installments is recognized, with the first installment always starting from 03.16.2021, without the application of penalties and interest. Read more q Fiscale Prorogato al 01.04.2021 il termine per adeguarsi al tracciato telematico xml 7.0, previsto per l'invio dei dati dei corrispettivi giornalieri! Prorogato al 01.04.2021 il termine per adeguarsi al tracciato telematico xml 7.0, previsto per l'invio dei dati dei corrispettivi giornalieri! With the Provision prot. 389405 of 23.12.2020, the Financial Administration has issued an extension to 01.04.2021 of the deadline, originally set for 01.01.2021, for the entry into force of the new track… Extension for sending xml 7.0 electronic fees Extension of telematic fees 2021 - The provision prot. 389405 of the Director of the Revenue Agency, signed on 23.12.2020, has ordered the deferral of three months of the effective date of the xml 7.0 telematic path, required for the sending of data href="https://www.agenziaentrate.gov.it/portale/web/guest/schede/comunicazioni/fatture-e-corrispettivi/fatture-e-corrispettivi-st/st-indivio-corrispettivi-registratori-telematici-temp" target="_blank" rel="noreferrer">daily telematic corrispettivi, the entry into force of which had previously been set for 01.01.2021. The telematic recorders must, therefore, be adapted by 01.04.2021! To find out more, do not hesitate to contact us and find out more about our services consultancy. 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