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Italy Announces Further COVID-19 Tax Measures

by Ulrika Lomas, Tax-News.com, Brussels

15 April 2020


On April 6, 2020, Italy's Council of Ministers announced further measures to support taxpayers affected by the COVID-19 virus, including the postponement of value-added tax, social security, and wage withholding payment deadlines.

Under the measures, payment of these taxes for April and May will be suspended until June 2020 subject to certain conditions, including that the taxpayer has experienced a drop in turnover of at least 33 percent.

Upon resumption of tax payments in June 2020, taxpayers may be able to pay their tax liabilities in five installments.

Additionally, the suspension of withholding tax on self-employment income now includes tax due for April and May 2020.

Furthermore, the 50 percent tax credit available for costs incurred in sanitizing workplaces now covers purchases of personal protective equipment, including masks and goggles.

TAGS: compliance | tax | value added tax (VAT) | tax compliance | tax credits | self-employment | withholding tax | social security | Italy

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