new-legal-interest-rate:-what-changes-for-taxes-and-contributions-–-rb

New legal interest rate: what changes for taxes and contributions – RB

New legal interest rate: what changes for taxes and contributions – RB

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New legal interest rate : what changes for taxes and contributions – RB

New legal interest rate: what changes for taxes and contributions – RB We have explained the details of the news, step by step, below. New legal interest rate: what changes for taxes and contributions – RB Keep reading our news. Here are all the details on the subject.

New legal interest rate: what changes for taxes and contributions – RB

12 January 2022

Taxes, pensions, contributions, rentals: the jump in the legal interest rate does not bring good news . The increase will have consequences for those who pay late or for those who choose to pay in installments , for example as regards the types of taxes such as the Imu. But while for several years up to 2021 interests were a small item, from this year they become a factor to be taken into consideration. Why did the rate go up? And what will it have a more widespread impact on?

The legal interest rate was raised to 1, 25% from the previous 0.1% by decree of the Ministry of Economy and Finance last December and has been operational since 1 January 2022 for the whole year. The rate is calculated on the basis of the average gross yield per year on government bonds not exceeding 12 months and inflation rate , which has not stopped increasing for some months and reached 3.9% . What will the increase entail from a practical point of view?

New legal interest rate, on what will it impact more?

The main impact of the legal interest rate hike will be on deferred payments of taxes and of taxes, i.e. on the installments of direct taxes provided for in the tax return if the taxpayer decides not to pay in a single solution. The interest of 1, 25% per annum.

The other impact will be on the so-called industrious repentance , i.e. on the institution provided for by the law concerning the cases of late payment of taxes, duties and duties before having undergone an assessment ( for example if an IMU or Tari deadline has been missed). From now on, therefore, those who pay late will have to calculate to add the new interest rate. The rate is applied to the delay starting from 1 January 2022, while for the previous years the rate set for that year remains. Example: on an amount of 28 thousand $ paid twelve months late, one passes from 2.8 $ of active repentance in 2021 to 352, 8 $ In the 2022.

New legal interest rate, including rents and pensions

The legal interest rate is also applied in case of delay in the payment of welfare contributions and pension contributions by businesses and workers. However, the same applies to the interest on pensions, benefits and indemnities paid by INPS to the direct interested parties in delay with respect to the first effective date. The impact for taxpayers who are entitled to a refund, whether from the tax authorities or pension institutions, will be positive. And this happens when you win a lawsuit with the INPS .

The increase in the legal interest rate also impacts on those who rent a house because it is applied to the rental deposits and which must be paid to the tenant at the end of the year. This also has an impact on the coefficients to determine the taxes that are paid on the deed of transfer of the usufruct rights of a property for life. The value of the usufruct is calculated by multiplying the value of the full ownership by the legal interest rate (1, 25%) and by the coefficient established based on the age of the beneficiary.