About 69,000 taxpayers pay VAT in installments in Fisco

Almost 69,000 taxpayers have subscribed to the latest VAT installment plan for operations in the fourth quarter or December, depending on whether they are companies on the quarterly regime (with annual sales below € 650,000) or on the monthly regime (above this threshold).

According to the Ministry of Finance, the total amount to be delivered by the supporters to the tax authorities amounts to around 363 million euros. The government did not respond to the PUBLIC’s request to find out how many taxpayers are businesses and how many are self-employed.

Of the 68,800 members, the vast majority (64,900) are companies included in the quarterly regime. Of these, 60% (around 39.1 thousand) opted for the payment method in six monthly installments (the first of which was now taking place). This group contains the largest part of the collection with a value of around 211 million euros. At the same time, around 25.7 thousand contributors to the quarterly regime have subscribed to the flexibility plan in three installments, which corresponds to a turnover of 90.3 million euros.

This time, with many companies behind closed doors due to the new health restrictions, there were more quarterly regime contributors sticking to the flexibility plan than in November when they had to deliver VAT for the third quarter of 2020.

While at the time 29,000 companies were taking the quarterly rule to meet the incremental payments, that number has more than doubled.

Among the taxpayers with the highest billing volume, 3955 were those who now adhered to the exception system. Most (3199 cases) entered the plan within six months, with VAT for this group equaling 56.3 million euros. Still every month, 756 taxpayers joined the plan for three months, with a VAT amount of almost six million euros.

The Treasury Department did not disclose how many taxpayers were paying their VAT at the same time.

Companies were able to pay the first installment (or all of) VAT for the fourth quarter of 2020 or December by March 1, instead of the February 25 deadline, which was already an extension of the term.

For those who have joined the flexibility of the three months, the second tranche must be paid out in that month and the third in April.

For those who work for six months, deliveries are also carried out monthly, which means payment is made by July. When businesses move back to incremental payments, they have to make payments for more than one installment plan in several months.

For example, a small business (quarterly) that accessed the fourth quarter payment in six installments in February and needs to repeat the six-month incremental VAT delivery for the first quarter of 2021 will face cross-deliveries for three months.

After delivering a sixth of the value in February, another sixth in March, and so on in April, May and June, that block will be completed in July. At the same time, as in May, you will have to gradually pay VAT for the first quarter of this year. In the months of May, June and July you have to pay the installments for the two quarters after you have just paid the last one in August and September and October.

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