Law and regulation of Covid-19 tax relief in Italy

Extension of deadlines of VAT payments:

• for taxpayers with an amount of revenues not exceeding EUR 2 Mln in 2019.
• for specific businesses without any revenue limitations.

• N/A

Extension of deadlines of payments:

• for taxpayers with an amount of revenues not exceeding EUR 2 Mln in 2019.
• for specific businesses without any revenue limitations.

Relief measures for businesses:

• Transformation of deferred tax assets in tax credits under certain conditions
• Tax credit in relation to expenses for sanitisation operations
• Tax credit for lease expenses regarding small stores (60% of the rents due in March 2020)
• Deductibility of donations made to counter COVID19

Other measures:

• Temporary interruption of tax audits and tax assessments and certain collection and tax filing activities
• Extension of 2 years of the statute of limitations expiring on December 31, 2020
• Deferral of the terms for rulings of the Italian Revenue Agency
• Temporary interruption of the terms of tax justice