Law Revenue Agency concerning building renovations: 36% withholding on transfers
Below is the measure of 'Inland Revenue, n. 94288/2010 of 30 June 2010 concerning the execution of the withholding tax pursuant to Article 25 of the Decree-Law of 31 May 2010, n. 78, payments on credit transfers arranged by taxpayers to benefit from deductible expenses or for which it is a tax deduction, such as for example credit for renovations and energy conservation.
The standard has hit the main purpose of tax evasion, as well as produce a benefit to the IRS that in this way can cash out in advance.
Therefore, hoping to be helpful to all those who need it public the full text.
Full text.
THE DIRECTOR
In accordance with the powers conferred on the standards outlined later in this
measure,
HAS
1. Types of payments by bank transfers
1.1 Banks and the Italian Post Office SPA receiving transfers arranged for the costs referred to in
Section 1.2, operating at the time of crediting payments, the withholding tax of 10 per cent by way of
payment of income tax payable by the beneficiaries, to be passed.
1.2 The deduction referred to in point 1.1 shall be carried out on payments relating to credit transfers arranged for:
a. intervention costs of recovery of the housing, in accordance with Article 1 of the
Law of 27 December 1997, n. 449 and subsequent modifications;
b. costs of energy saving measures in accordance with Article 1, paragraphs 344, 345, 346
and 347 of the Law of 27 December 2006, n. 296, as amended.
2. Obligations of the bank and of the Italian SPA
2.1 Banks and the Italian Post Office SPA operating deductions referred to in paragraph 1 are required to
the following tasks:
a. pay over the withholding in the manner provided for in Article 17 of Legislative Decree 9 July
1997, n. 241, using the appropriate tax code;
b. certify to the beneficiary within the time limits provided for in Article 4, paragraph 6-quater of the
Decree of the President of the Republic on 22 July 1998, no. 322, the amount of
sums paid and deductions;
c. indicated in the declaration of withholding under Article 4, paragraph 1, of
Decree of the President of the Republic on 22 July 1998, no. 322, the data relating to
beneficiaries and the amounts credited and amounts withheld.
Motivations
This resolution has been issued pursuant to Article 25 of the Decree-Law of 31 May
2010, no. 78, which provides that banks and Poste Italian SPA operate a withholding tax of 10
per cent on account of income tax payable by the beneficiaries, with the obligation to
compensation at the time of crediting payments relating to transfers from taxpayers willing to
benefit from deductible expenses or for which it is a tax deduction.
In particular, by this measure, identifies the types of payment
made by bank transfer or check, in relation to the areas covered by
withholding tax introduced by this Article 25 as also the procedures and certification
statement on banks and Poste Italian SPA.
These entities must operate, upon accreditation of the amounts, the withholding tax,
to be passed, to make its payment in the manner provided for in Article 17 of the
legislative decree 9 July 1997. 241, issue certification of withholding taxes
made to the beneficiary and state in the declaration of withholding data
relating to payments made.
Duties of the Director of Revenue.
Decree of 30 July 1999, no. 300 (art. 57, art. 62, art. 66, art. 67, paragraph 1, art. 68,
paragraph 1, art. 71, paragraph 3, letter a), art. 73, paragraph 4)
Decree of the Minister of Finance of 28 December 2000 published in the Official Gazette no. 9
of 12 January 2001
Regulation of directors of the Inland Revenue, published in the Official
Journal. 36 of 13 February 2001 (Article 2, paragraph 1)
Statute of the Revenue, published in the Official Gazette no. 42 of 20 February
2001 (Article 5, paragraph 1, art. 6, paragraph 1)
Legal framework of reference
Decree-Law of 31 May 2010, n. 78, on urgent measures for stabilization
financial and economic competitiveness
Decree of the President of the Republic on 29 September 1973, no. 600 laying down rules
provisions on the assessment of taxes on income
Decree of the President of the Republic on 22 December 1986, no. 917 (Tax Consolidation Act
Income Tax)
Law of 27 December 1997, n. 449 laying down measures for the stabilization of public finance
(Finance Act 1998)
Law of 27 December 2006, n. 296 laying down rules for the preparation of the annual financial statements and
multi-state (Finance Act 2007)
Legislative decree 9 July 1997. 241 laying down rules to simplify requirements
taxpayers in the tax return and the value added tax, as well as
modernization of the management system of the statements
Decree of the President of the Republic on 22 July 1998, no. 322 laying down the procedures for the
presentation of statements of income tax, regional tax on
productive activities and to value added tax.
27/08/2010
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Translated via software
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Source:
Italian version of ReteIngegneri.it