Taxes and deductions for minimum taxpayers
It is individuals who carry out business, arts or professions of economic size and contained characterized by certain requirements.
In particular, in the category of "minimum" individual businesses and professionals in activities that in the previous tax year:
• have profits or payments not exceeding EUR 30 thousand
• have not exported
• did not have employees or associates
• had made no profits to be associated with participation in the supply of labor only.
In addition, to access the subsidized regime is necessary for the purchase of goods made in the previous three years have been of no more than 15 thousand euro.
They can choose the new scheme since 2008 also:
• Taxpayers commencing the activity and presumed to possess the requirements, taking into account that, if the task starts during the year, the limit of 30 thousand Euros of business or revenue must be the same year
• those who in 2007 applied the "exemption scheme."
Can not be considered "minimum" taxpayers who operate in activities which are subject to special arrangements VAT (publishing, agriculture, management of public telephone services, travel agencies, etc.). Also excluded:
• non-residents
• those who, exclusively or primarily, in the operation of sale of real estate (buildings and building land) and new means of transport
• who, together, participate in partnerships, professional associations or limited liability company.
The new tax regime
It is simplified tax procedures that provide for the exemption from the requirements of liquidation and payment of VAT and all other obligations (registration of invoices issued and those of purchase, the annual VAT, annual communication of VAT data, compilation customer and supplier lists, etc.).
According to the new regulations the invoice or receipt shall not bear the charge of tax. The VAT paid on purchases is, however, a deductible expense from income.
For the purposes of income tax, there is an exemption from IRAP (and consequent exemption from the obligation to submit the relevant declaration), the exemption from the registration requirements and maintenance of accounting records and the exclusion from the application of studies in the sector.
Income per annum (being the difference between the amount of revenue or compensation and the expenses incurred in the exercise of) applies only to a substitute tax Irpef and its additional a rate of 20 percent.
The system has the minimum term, as well as option of the taxpayer, when you exceed the limit of 30 thousand Euros of business or revenue, or when one of the causes that determine exclusion.
In particular, leaving the regime is:
• the year after that in which it is not even one of the conditions required
• From the same when revenues or payments received exceed by more than 50% of the limit of 30 thousand euro.
17/03/2008
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Translated via software
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Source:
Italian version of ReteArchitetti.it