The law decree linked to the Budget Act 2020 provides for provisions aimed at combating tax evasion aimed at VAT holders, traders, professionals, employees.
One of the novelties laid down by the text is the tightening on the use of cash which, starting from 1 July 2020 and throughout 2021, will first pass to 3,000 and then to 2,000 euros.
Furthermore, from next year, penalties will be introduced for those who refuse payments with P.O.S. (point of sale): from 1 July 2020, in fact, there can be a penalties of 30 euros increased by 4% of the transaction value for those who refuse card payment.
Also starting from next year, the 2020 Tax decree foresees provides for the reopening of the terms for the scrapping of the tax records, granting to those subjects that have not fulfilled the payments, by July 31st last, the chance of re-entering the benefit. The new rule, in fact, extends the deadline to pay the bill or to pay the first payment, to the end of November, for those who have opted for payment in instalments.
The 2020 Tax Decree also contains a tightening of compensation for companies and, above all, for professionals, making it more difficult for VAT holders to use their credits until the date of submission of the tax return.
Therefore, taxpayers interested in using credits relating to direct and substitute taxes in compensation through the F24 form, for amounts of credit exceeding 5,000 euros per year, must first submit the declaration from which the credit emerges and, in any case, must submit the F24 form through the electronic services of the Revenue Agency.