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There are several in the 2020 Budget Law incentives for the use of electronic payment systems For both end customers and merchants and professionals who install POS within their businesses. The latter, if they have achieved income and compensation in an amount not exceeding € 400 thousand, can take advantage of a tax credit equivalent to 30% of the payment commissions accepted.
As specified by the Tax Agency in a provision published on the website on April 29, the tax credit recognized only if companies report total accepted payments to tax authorities during the previous month Communication, as established by the financial administration, will be borne by the companies that provide the service. That is, the payment institutions that, through their points of sale and their technical and technological infrastructure, allow merchants or professionals to accept payments with credit or debit cards.
Electronic payment communication: how it works
The measure prepared by the financial administration helps clarify how they will allow get the tax credit for electronic payments. First, some key terms are clarified, such as the meaning of commission, final consumer, contract, tax credit, debit month, and others.
In the following paragraphs, however, the “proportion” of the provision and the practical indications on how electronic payment communication works to the Tax Agency. In the first place, it will be treated by “authorized payment service providers who carry out their business in the national territory”; that is, all those companies and companies that allow companies and professionals to install a POS and accept payments with credit or debit cards and other electronic methods (such as payments with smartphones).
The data must be transmitted through the Exchange system using the encrypted and secure “application to application” infrastructure created by AdE. If the data is smaller than 20 megabytes, it can also be sent through PEC.
Electronic payment communication: the data to enter
As required by Article 22, paragraph 5, first sentence, of Decree Law n. 124 of 2019, the following data must be entered in the communication to be sent to the Tax Agency:
- Operator tax code;
- Month and year of debit;
- The total number of payment transactions made in the reporting period;
- The total number of payment transactions attributable to end consumers in the reference period;
- The amount of commissions charged for payment transactions attributable to end consumers;
- The amount of periodic fixed costs that includes a variable number of tax-free transactions, even if they include the fee for the acceptance service provision.
Electronic payment communication: correction of errors and terms to respect.
The communication of data to the Tax Agency must be carried out before the 20th day of the month following the reference period (that is, the month and year in which the payment transactions were made). In case of error, it is necessary to send a data cancellation communication and make a new one, always respecting the deadline of the twentieth day of the following month.
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