[ad_1]
Reimbursement of commissions for payments made through TPV reserved for VAT holders of up to 400,000 thousand euros begins. The communication arrives in the last hours by the Tax Agency. Partial refund of commissions paid by each operator is expected after payments made to customers by POS. Let’s see how it works and how to benefit from the expected tax credit.
The Tax Agency clarifies the tax credit
With the provision no. 181301 of April 29, 2020, the Tax Agency has communicated the terms, methods and content of communications related to electronic payments. In this way, art. 22, paragraph 6, of the 2020 tax decree. The latter introduced a tax credit equivalent to 30% of the commissions charged for each payment made through an electronic instrument. Therefore, we refer to payments made with credit, debit, prepaid and other cards. All VAT holders who carry out commercial, artistic and professional activities will be entitled to the concession provided for the payment of commissions. 30% VAT POS payment commissions refund will be available soon.
From registration for refunds
Since when will the 30% VAT refund be active for POS payments? In accordance with the provisions of the AdE, the sending of communications can be made from July 1, 2020. All commercial, artistic and professional activities that record a turnover of less than 400 thousand euros, may benefit from the tax credit of 30 %. This is a refund for the high commission costs that weigh on payments made with telematic tools for the sale of goods or services.
The documents produced will also be useful for tax evaluations.
As specified by the Tax Agency, the useful documents to receive the refund will have a double validity: if, on the one hand, they will be necessary for the tax benefit, on the other, they will become useful material to carry out the usual tax verifications. In fact, these data will be kept for the next 10 years. All electronic payment transactions made after July 1 will be required to communicate. The tax credit will also be recognized for contracts and fixed costs that establish a maximum number of free POS transactions. In the provision issued by the Tax Agency, it is specified that the so-called “contractors”, that is, those who provide payment services, will give these communications. Transmission will continue thanks to the use of the SID system, that is, the data exchange system.
