Published the Circular Letter no. 5/2018: a complete and organic set of rules governing company Welfare

On 29 March 2018, the Italian Tax Authority has published the awaited Circular Letter no. 5/2018,  which provides a complete and organic set of rules governing company Welfare.

With the above Circular Letter several aspects of significant importance are clarified including, inter alia:

• the conditions to be met for the conversion of the performance bonus (premio di risultato) into untaxed goods and services, as well as the practical steps to follow to pay sums in advance or down payments;

• the rules governing the replacement of the performance bonus with company cars, loans, rentals, trips, shares and public transport cards;
  
  
• the set of benefits, which are excluded from the employee’s income and relevant social security contributions withholding.

Download The Circular Letter here aside