"May 31, 2016 NEWS-INDUSTRY STUDIES: obligations" stunner denies "and sanctions" relieved "

Posted by on May 31, 2016

The circular 24/and published yesterday by the Inland Revenue gives us the opportunity to draw some specificity concerning the obligations and report templates associated penalties, recently amended by the implementing decrees of the enabling Act.

Compiling texts aspects, it seems worthwhile to note how on dealing practices document (probably incorrectly) also to rectify the guidance from the previous circular 10/E/2016 in relation to the rate payers. That "she gets one right", some would say, the flat-rate scheme with the sector studies? We are talking about taxpayers who – by their nature – are excluded from monitoring with Jericho; However, the answer is soon given, since the "inaction" of accounting information related to the costs of such entities (elements recognized automatically by the system) did find it useful to build a dedicated section of the framework model RS Only, with the leave of absence of obligation to keep accounting records.

With respect to such information, revenue show that, with circular 10/it was stated that:

  • the data requested in the declarative prospectus shall be indicated by regarding the documentation received or emitted by such entities;
  • business operators must certify the information for which they have received its tax records in the tax period and to the extent stated therein;
  • capital goods used promiscuously for business, art or profession and for the personal or family use of the taxpayer, must be declared to the extent of 50%.

We then realized the obvious emerging policy dystonia from the last two points of the list: charges to be specified as per accounting document, the goods to be supplied due to mixed use.

Taking account of the intended purpose unspecified collecting that information (in this writer's opinion to control the mismatch between the amount of actual costs and those recognized automatically) and reasons of simplification that inspired the introduction of the new subsidized regime (in which sense the statement is obscure, as the simplification should lead to deny the existence of any informational burden borne by a third party not taking accounting records) you arrive in asserting that "the designation provided in circular No. 10/and 2016 (ndr. in relation to goods) is also applicable to costs and expenses relating to goods or services used promiscuously for business, art or profession and for the personal or family use of the taxpayer ".

Coming back now on the side of the subject required the application of industry studies, paragraph 8 of the circular focuses on review of the disciplinary system that accompanies the disease model compilation.

Remember, then, that – in the various sectors of the taxation (direct, VAT, IRAP) – the penalties do not suffer more the increase (of 10% and 50%) applicable in the case of omitted or unfaithful indication of expected data in models of industry studies, or fail to produce such models, as well as in cases of indication of causes of exclusion or inapplicability does not exist.

However, failure to provide information in the declarative model (which includes the section dedicated to the sector studies) may result in infringement of article 8 of the Decree 471/1997, which evokes a penalty ranging from 250 to 2,000 euros.

The last period of the said paragraph, in that regard, States that: "the sanction applies in full extent in case of non-presentation of the model for the transmission of data relevant for the purpose of applying sector studies, where such fulfilment is due and the taxpayer has failed to the presentation of the model as a result of a specific invitation from the Bureau of internal revenue".

We are therefore perfectly "embedded" in the new approach to the omission of information in models, as it happens, for example, with regard to companies and to intervene, to blacklist countries costs, etc..

Fortunately, being so many required data from model studies, recall that the penalty laid down in article 8 is applicable only with respect to those relevant to:

  • assigning reference clusters;
  • the estimate of revenues or royalties;
  • the calculation of the indicators of normality or coherence.

To understand, exactly, what those "relevant" variables you can refer:

  • technical and methodological notes of approval of studies;
  • the same software Jericho, which provides a specific functionality (tab "Calculation" "highlight fields for calculating" >).

In conclusion, we can draw the following conclusions:

  • the "new face of Irs" requires a maximum transparency in the reporting of information within the declarative model;
  • the concept, for obvious parallel, also applies to the case of the flat-rate tax payers, though not subject to application of industry studies;
  • taxpayers who apply to studies, however, are subject to the imposition of a penalty in fixed measure (maximum 2,000 euro) If you have diseases in "relevant" information for the functioning of the study.

It is so clear that all the additional information that "turn" in JERICHO contino little or nothing, and in that sense we know are already underway (and hope to see soon the effects) the stage of "lightening and simplification" aims to realize a complete cleansing of data superfluous information.

by John V