Home » Aid to businesses, is the decline in turnover or profits worth it? The hypothesis of the balance in two installments

Aid to businesses, is the decline in turnover or profits worth it? The hypothesis of the balance in two installments

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“You can’t have everything,” explained Mario Draghi at a press conference when he evoked the debate, also within the government, on the parameters to be used for the new aid for VAT numbers.

The two possible criteria: loss of turnover and loss of profits

The division is between the speed of the criterion based on the loss of turnover and the precision of the one that instead looks at the drop in profitability, given by the intersection between revenue dynamics and cost trends. The first cuts the timing of payments, because it exploits the electronic channel already used by the first Sostegni decree (as of Friday 16 April, the Revenue Agency explains, over 3 billion euros have been paid to one million self-employed); the second better frames the difficulties experienced by the self-employed and small businesses, as also explained by the Parliamentary Budget Office.

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The “two-stage” mechanism hypothesis

The derby could result in a draw. With a two-stage mechanism, which would immediately disburse a new advance based on turnover, as is happening now, and would postpone the balance based on the fall in profitability to a later time. How much later? The premier spoke of “three to four weeks more”, but the calendar risks being longer.

For the balance it is necessary to wait for the filing of the financial statements

The primary source of the data necessary for the definition of surgical supports are the budgets. But the emergency rules gave companies until the end of June for their approval. In this case, therefore, the balance should wait at least in July, unless a preferential lane is opened for those who have already closed their accounts and are in a position to present them earlier.

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The crux of the group of companies in simplified accounting

But there is one more problem. A large part of the audience interested in the non-repayable fund is in simplified accounting, and does not present financial statements. For them, therefore, the way hypothesized by the premier is “the taxable amount”. Which must be looked for in the declarations: to be submitted by 30 November. In short, the times would lengthen by a lot. Unless we accept the proposal launched in recent days by the Brothers of Italy who asked to bring forward the terms for those in economic difficulty and aim to access new model aid.

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