DL support: Refreshments "burned" to pay the taxes in June

If, with the two Support decrees approved in recent months, the Draghi Government will be called upon to provide companies and VAT numbers about 21,4 billion euros in non-repayable grants, on the other hand, economic activities will pay almost 19 billion euros to the treasury. by the end of this month to meet the deadlines set by the fiscal calendar. This was reported by the CGIA Studies Office.

In short, comparing these large numbers, we can affirm, with great bitterness, that if many business owners receive little aid and in serious delay, they will have to return them immediately to the sender, that is to the State, to pay advances and balances of Ires, Imu, Irpef. / additional personal income tax, IRAP and chamber law.

It is clear that we are only comparing the balances. However, if with one hand they give you refreshments and with the other they take almost all of them back through taxes, nothing changes for the State, but for many small businesses, exhausted by the crisis, the difficulties are destined to increase, feeding the suspicion among entrepreneurs of being victims of a great mockery.

Obviously, among the companies and the VAT numbers that will be called to meet the tax deadlines there are those that have received or will receive the refreshments because they are beneficiaries of the measures developed by the Government, but also those that have not suffered major problems from Covid and therefore they have not received nor will receive any grant.

Otherwise, the tax revenue for June, as estimated in this elaboration, will include the tax "contribution" of all those activities which, although they have suffered significant losses in turnover, but below the 30 percent threshold, will not collect anything, or of production companies or services that despite having recorded a collapse in turnover of more than 30 percent, cannot enjoy any non-repayable contribution because they have an annual turnover of more than 10 million euros.

From a methodological point of view, reports the CGIA Studies Office, the estimated tax revenue (equal to 18,9 billion euros) was calculated assuming that the number of paying companies in this month of June is in line with that registered in previous years. Also, in light of the data presented in recent months by the Ministry of Economy and Finance relating to electronic invoicing 2020, an 11,5 percent reduction in the revenues of the companies (Snc, Srl, Spa, etc.) has been estimated. and 4,6 per cent of natural persons (sole proprietorships).

Finally, in the calculation of the revenue attributable to the first installment of the IMU 2021, the estimate was decreased by 445 million euros which correspond to the exemptions introduced by the Government for the benefit of some activities severely affected by the confinement measures introduced in recent months (hotels, pensions, fairs, cinemas, discos, theaters, etc.).

If, in all likelihood, the aid of the 2 Support decrees will be "burned" to meet the tax deadlines of the month of June alone, the CGIA reiterates the need for a zeroing of the tax burden for the current year. This general cut in taxes and revenue for the current year would cost the tax authorities between 28/30 billion euros. An estimate that was calculated by assuming to allow all economic activities with a turnover in 2019 of less than one million euros not to pay personal income tax, IRES and IMU on the warehouses for the current year.

These small companies, pending the much-needed tax reform, should still pay local taxes, so as not to cause further liquidity problems for the Mayors and Governors. With a lighter tax (see Graph 1), in the second half of the year they could operate with less anxiety, less stress and more serenity. Not only that, but with 28/30 billion saved, we will lay the foundations to restart the country's economy permanently. We have understood that, in large part, there is no shortage of money to implement this measure: if of the 21,4 billion in outgoing refreshments, 19 in taxes are returned to the State, almost 2/3 of the expenditure relating to the zeroing of taxes. for the current year it is practically insured.

DL support: Refreshments "burned" to pay the taxes in June

| Economics |