Debtors getting off the hook
Finance Ministry bill aims to settle a number of pending issues through amendments
The Finance Ministry on Thursday submitted to Parliament the bill for regulating the debts dating from last year’s energy crisis, with a number of additional provisions. They include the imposition of fines of up to 50,000 euros for businesses that fail to proceed with the interconnection of their card terminals with the tax mechanism’s systems.
Provisions are also made to facilitate property transfers, to automatically complete the E9 property declaration form, to pay traffic fees by the month and to abolish the penalty for the late filing of tax returns.
The re-inclusion in the 72 or 120-installment arrangements for debts to the tax office and insurance funds and 100 installments for debts to municipalities, as well as new extraordinary payment arrangements in 36 or 72 installments for debts to the tax office, insurance funds and municipalities is the core of the bill. Installments are interest-bearing, with an interest rate of 4.37% for the 36 installments and 5.87% for the 72 installments and a minimum monthly installment amount of €30.
The other provisions of the bill concern, among other things, a 3% discount provided for the one-time payment of income tax, and the mandatory interconnection of point-of-sale terminals with the tax office and the transmission of data either through electronic tax mechanisms or directly with the tax authorities’ information systems. In case of violation of the relevant obligation, a fine of €1,000 to €50,000 is to be imposed.
This quasi-omnibus bill also determines that from April 3, 2023, the arrangement for payment of road charges by the month will be activated as an incentive to remove the immobility of cars and motorcycles. Owners can temporarily remove immobility for as long as they wish. Furthermore, the validity of the reduced VAT rate of 13% for transport, catering services, gyms, and the super-reduced 6% for personal hygiene items (masks etc) and cinema tickets is extended until December 31. The fiscal cost is €246 million for 2023.
