Debt Consolidation: 6 ways to heal debts

 

Those who are at war with the Revenue can take advantage of the many opportunities for fiscal peace included in the Decree approved by the Government and published in the Official Journal. Making peace with the Revenue Agency from now on. Because the provision came into force since last October 24, so the rules are already applicable, indeed, we must do very quickly if you want to close outstanding accounts and old debts.

Critics have been criticized on what seems to be the Government of the amnesty, including accountants. The national council of chartered accountants, whose simulations put black on white the fact that these measures reward the tax evaders: that is, repenting, get a big tax discount, thus mocking the honest ones. The fact is that fiscal peace is in place and many accounts can be remedied.

And there are several roads, depending on the type of debt in progress: fines, car tax, minutes of dispute, notices of assessment, tax disputes in progress. In short, there is the embarrassment of the choice to put a point on many issues pending with the Tax.

Let’s see in detail, in terms of tax amnesty, 6 ways to heal debts and outstanding issues with the Guard Finance and the Revenue Agency.

Read also “Tax Peace 2019: how the 20% supplementary declaration works”

Fiscal Peace 2019: scrapping folders

It will still be possible to take advantage of the scrapping of tax assessments, in particular of the Ter Rottamazione. The new facilitated definition also extends to taxpayers who have joined the scrapped bis. In any case, the payments of the first three installments must be in order: to do so, it will be sufficient to settle the three installments or the only installment of November 2018 by next December 7th.

Those who adhere to this “amnesty” will not have to pay penalties and interests. And there is also a big news compared to the previous scrapping: the extension of payments. Specifically, the payment is deferred over 5 years, with 2 semiannual payments per year (31st July and 30th November).

Peace tax litigation: amnesty with discount for those who won

Who won will be able to take advantage of a fairly convenient amnesty. This will happen:

  • Who won will pay 50 percent of the value of the dispute;
  • Those who have won on appeal will pay 20 percent of the value of the dispute

Also in this case, to pay the due you will have more time: a maximum of 20 quarterly installments up to 5 years. The text of the decree provides that only the disputes concerning tax acts can benefit from the facilitated closure.

Tax Peace 2019: excerpt mini-folders

It also comes, as anticipated, the excerpt of the mini-folders up to 1,000 euros, for old debts between 2000 and 2010. In practice this form of amnesty is not subject to any question, because these debts will be canceled automatically within end 2018.

This cancellation includes fines, car tax, local taxes (Imu, tasi, etc…). the doubt concerns the 1000 euro limit: in the calculation of the amounts also include penalties and interest or only the principal amount? Opinions differ, among those who argue that the calculation of the limit of € 1,000 should be considered net of penalties and interest and those who, instead, think otherwise.

Fiscal Peace 2019: the scrapping of the customs folders

Until now they have been excluded from the range of possibilities, but now the customs folders can also be scrapped. Taxpayers will be able to settle the accounts with the Revenue without penalties and a part of interest for customs duties, duties and VAT on importation. A customs amnesty is therefore envisaged. The documents issued as part of the voluntary collaboration procedure are excluded from the definition

Fiscal Peace 2019: assessment notices

The tax deeds – notices of assessment, rectification and liquidation and recovery proceedings – notified by the entry into force of the decree, therefore by October 24, 2018, and not challenged and still contestable, may be defined with the payment of established taxes, with full cancellation of penalties and interest within thirty days.

Tax payments must be made with one-off payments or 8 quarterly installments (20 installments for amounts over 50 thousand euros) without the possibility of using the compensation. If there were errors, repentance will still be possible.

Fiscal Peace 2019: verbal statements of verification

Provision is made for defining the full content of the verification reports (pvc) of the Guard Finance or of the Revenue Agency, delivered by October 14, 2018 and related to income tax and additional taxes, VAT, Irap, substitute taxes, social security contributions and withholdings, Ivie and Ivaf.

Anyone wishing to join, must submit supplementary declarations by May 31, 2019, which show, for all the tax periods for which the terms of assessment have not expired (also taking into account any doubling of the terms), the highest taxable disputes.

 

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