Labour and tax relief. Clarifications from the revenue agency
Article 1, paragraphs 182-190 of the Law of 28 December 2015, n. 208 (Law of Stability 2016) provides the tax reductions for reward pay, even in connection with employee participation in the organization of work, and for the development of so called “corporate welfare”.
In particular paragraphs 182 to 189 from the law of stability have reintroduced, with effect from 2016, a system of assisted taxation, namely the imposition of a substitute from the IRPEF and additional 10 percent relative to productivity bonuses in the private sector with important new elements with respect to the past, including the extension of the benefit to share in the profits of the enterprise by workers and the possibility, at the request of the workers, to receive awards in the form of tax-free benefits .
The application of the provisions are governed by the Decree of the Minister of Labour and Social Policy, in consultation with the Minister of Economy and Finance, issued March 25, 2016 and published on 16 May 2016.
By circular no. 28 / E of 15 June 2016, the Inland Revenue, in consultation with the Ministry of Labour and Social Policy, explains the benefits of the debate with specific reference to:
– Performance bonuses and amounts arising from profit sharing
– Goods and services (benefits) not subject to taxation ie the so-called “corporate welfare”: performances, works and services paid to the employee in kind or in the form of reimbursement of expenses established for the purposes that can be defined, synthetically, socially relevant, exclusions from employment income;
– Works and services with educational purposes, education, recreation, social welfare, health or religion as well as the frequency of entertainment and summer camps and scholarships;
– Sums for services of provision of assistance to elderly family members or dependents;
– Payment of various benefits (vouchers and meal vouchers);
– Goods and services (benefits) paid in lieu of prizes.
The Circular, very analytical and detailed, merits a careful analysis from the operators of the sector, constituting an instrument that allows companies to make the best use of possible savings on labour costs.