Economy

What is it, and who benefits most of car leasing

Car leasing is a particular form of a hired car and not a form of purchase. Leasing companies, in fact, provide a large fleet of cars and commercial vehicles, which customers can use by paying a sum corresponding to the use of the car for the duration of the contract.

Features

Leasing is the preferred medium by companies and commercial companies to take advantage of new means always, without have to pay for the bureaucratic aspects of car ownership, such as insurance payments, stamp and maintenance, of which deals with directly to the utility company for assistance. Car leasing is very similar to a loan. Surely you will ever buy an asset through a loan (a kitchen, a PC, a plasma tv ect ..) with regular payment of installments or royalties. Car leasing is precisely a loan, with the difference that the good that you have chosen (in this case the car) not purchased but Benefit for the period of time agreed upon at the inception of the contract. At the end of the payment of installments you can choose the most suitable solution for you, including the purchase of the car or return the same to the company for assistance. Usually, the company that offers you the loan is called the "lessor" and what do you Enjoy you the "lessee". Almost always, the lessee is responsible for the car as if it were his own, and his name appears on the documents of ownership and circulation of the car.

Bonuses and Christmas gifts: tax treatment

During the Christmas holidays, employers usually match the incentives to their employees in the form of gifts or as sums of money. What are the procedures for identifying the value of benefits in kind? What are the conditions necessary to ensure that donations can be regarded as exempt from income tax for the lender? The gifts to employees are deductible for income tax / IRES and IRAP?

The strategies followed by companies in the field of incentives linked to the Christmas holidays are basically two:

1. The first consists in the payment of gifts or Christmas gifts to employees;

2. the second consists in the payment of additional amounts to the traditional bonus or thirteenth.

Loans from the EU to professionals and micro enterprises

Progress is called the new EU project that 2010-2013 will ensure easier access to micro-credit, with a fund of 100 million euro to support the creation and development of small businesses and start-up of self-employment. Part of the plan SMEs and professionals to VAT are the beneficiaries, especially if they lost their jobs because of the crisis.

The aim of the new initiative is to promote entrepreneurship and small firms (with fewer than 10 employees) but also support employment, social inclusion and equal opportunities. SMEs interested in receiving microfinance, for a 25,000 euro loan, they shall ensure, as a necessary requirement to produce an annual turnover balance sheet total that does not exceed EUR 2 million.

Buy or rent a car?

Companies and professionals have at their disposal an alternative to purchasing of used cars for work: the long-term lease of the vehicle. From the point of view of costs, however, it is an advantageous alternative? Depends on the situation, although it should be noted as the Italian tax authorities, on the auto industry, it is always quite severe. 

VAT

To affect the percentage of deductibility of VAT (if 40% or 100%) are the type of the user and the methods of use of the vehicle. In detail, the VAT is fully deductible if the vehicles are strictly instrumental, or if they are essential to the performance of business activities. The threshold of deductibility is lowered to 40% for cars assigned to employees for both business and personal use, defined as "mixed use".

Extension of deduction 36% on restructuring

The Government has decided to extend until 31 December 2012, the income tax relief of 36% on building renovations and it becomes permanent the VAT rate of 10% for performance on the ordinary and extraordinary maintenance: these are contained in the new tax bill 2010 budget approved by the Council of Ministers last week.

The bonus of 36% will be valid for the interventions carried out between 1 January 2008 and 31 December 2012 for the enterprises of construction or renovation of buildings and building societies, who shall assignment or alienation of the property by June 30, 2013 . The discount will be calculated on a maximum spending limit of EUR 48 thousand for each property to be divided in ten years.

Professionals: 500 million funding

Rome | Confprofessioni and UniCredit launched the first national plan for funding and incentives to support the world of the professions. Fidi fast without guarantees, advances and receivables from the PA land, enough to be enrolled in an Order.

Banks give confidence to professionals and provide a credit line of 500 million euro.Confprofessioni has signed an agreement with UniCredit fact that the objective of providing financial solutions tailored to the needs of professionals and professional firms. Trust, current accounts dedicated, advance fees, mortgages, leasing, credit cards and insurance policies, all designed and tailored for professionals who can count on a total availability, in fact, more than 500 million euro. The conditions for access to the facilities are simple enough to be enrolled in an accredited profession and carry out their activities individually or in group practices and be members of Confprofessioni.

Construction: VAT concession to 10%

Application of the facilitated to 10%. The Finance Act of 2008 extended the application of the special VAT rates of 10 percent to services up to 31 December 2010 (extended until 2012 by the current wording of the 2010 budget) and were aimed at the restoration work of the building such as:

or routine maintenance;

or maintenance;

or restoration and consolidation conservative;

Taxes and Gifts: Treatment

We approach Christmas and many companies are struggling with the choice of gifts to be made to customers and suppliers with whom you are entertained business relationships.

Must keep in mind the fiscal discipline of gifts, as the same has been amended by the 2008 Budget.

Cost

The cost of the assets to be relinquished is fully deductible if less than € 50 (instead of the previous limit of € 25.82).

Complete Guide to deduct car expenses

Anyone who works in a tax consulting firm will know very well that one of the most frequent questions asked by the client inexperienced regarding how and to what extent deduct the costs of its own means of transport, and in particular those of the car.

In general there is some confusion on the subject, and because the rules on this matter are numerous and varied, and because the rules themselves have undergone changes in recent years also chaotic, both jointly derived from the need to increase taxation than from that of adapting our legislation to the information provided by the European Court of Justice.

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.

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