The non-refundable contributions already disbursed by the Revenue Agency to the VAT holders provided for by the Relaunch decree already amount to 5.2 billion. According to Adnkronos, when there are just under two weeks left before the deadline for submitting applications, set for 13 August, the tax offices have made transfers to the entitled parties in record time. On average, each file was processed and closed in 10 working days. All in electronic form on the basis of a platform set up by Sogei, the IT arm of the Agency.
The non-refundable contribution, provided for in article 25 of the Relaunch decree, is due to VAT holders who carry out business and self-employment activities or who are holders of agricultural income, and is commensurate with the decrease in turnover suffered due to the ‘epidemiological emergency. Taxpayers who in 2019 achieved an amount of revenues and fees not exceeding 5 million euros can obtain the benefit.
To access the contribution, it is necessary to have had an amount of turnover and fees for the month of April 2020 that is less than two thirds of the amount for the month of April 2019, or to have started the business after December 31, 2018 or have a tax domicile or the operational headquarters located in the territory of Municipalities affected by calamitous events, whose emergency states were in progress on 31 January 2020.
The amount of the non-refundable contribution is determined by applying a percentage to the difference between the amount of turnover and fees for April 2020 and the amount of turnover and fees for April 2019. In detail, the percentage is equal 20% for subjects with revenues or fees not exceeding 400,000 euros; 15% for subjects with revenues or fees higher than 400,000 euros and up to 1 million euros; 10% for subjects with revenues or fees in excess of 1 million euros and up to 5 million euros. In any case, a minimum contribution is envisaged for an amount of not less than one thousand euros for natural persons and two thousand euros for subjects other than natural persons.
The contribution does not contribute to the formation of the tax base of income taxes and does not contribute to the formation of the value of net production for the purposes of IRAP. For those who have not yet done so, there is time until August 13 to submit the request, exclusively electronically. In the event that the applicant is an heir who continues the activity on behalf of the deceased, applications can be sent until August 24, 2020.