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The effects of an increase in the statutory interest rate on civil penalties

The statutory interest rate increased to 5% effective January 1, 2023. 2 Shows the effects of this change on account of civil fines for non-payment of contributions and on pensions and Social Security benefits

L’INPS through circular no. 2 On January 4, 2023 assesses the effects of the change in statutory interest rate From January 1st.

the decree affiliate The Ministry of EconomyIn fact, I created a He increases From the rate that goes up from 1.25 to 5 percent on an annual basis.

the effects From this increase specified in Calculation of civil penalties To delete or delay the payment of social security and welfare contributions and pay pension entitlements and social security contributions from INPS.

INS contributions: Effects of an increase in the statutory interest rate on civil penalties

From January 1, 2023 applies statutory interest rate highest in recent years. the decree affiliate The Ministry of Economy and FinancePublication in the Official Gazette Issue. 292 of December 15, 2022, amended reference percentage which passes from 1.25 to 5 percent.

“The statutory interest rate measure pursuant to Art. 1284 of the Civil Code is fixed at 5 percent on an annual basis, as of January 1, 2023.”

This is legally fixed at 2.5 percentbut are updated annually as specified by civil law. L’amendment Based on fruit total annual average Government bonds It’s connected Inflation rate registered in the year. The main reason for the increase is, in fact, precisely this last value.

There are many Aftermath to Citizens involving different aspects, from Active repentance in a Civil penalties for not paying INPS contributions.

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over there circular no. 2, published by the Institute on January 4, 2023, focuses precisely on the latter. over there A change in the statutory interest ratein fact, is reflected on The extent of the penalties For contributions with a deadline premium From January 1, 2023.

Decision of the Ministry of Economy and Finance dated December 15, 2022
adjusting the statutory interest rate

The statutory interest rate on civil penalties, retirement pensions, and Social Security benefits

the Civil penalties apply for Delete or delay payment affiliate contributions Social Security and Welfare.

Specifically, the statutory interest rate used for purposes Calculation From civil penalties to hypothesis quantity reductionrules itArticle 116 Paragraph 15of Law 388/2000.

the Civil penalties they can reduced Up to the applicable statutory interest rate limit in some countries specific cases:

  • companies subject to insolvency proceedings;
  • farms affected by exceptional events;
  • corporate crisis, re-transformation or restructuring of particular social and economic importance in relation to the state of domestic employment and the productive situation of the sector;
  • malicious acts by third parties, which are reported to the judicial authority;
  • non-economic entities, non-profit entities, institutions and associations;
  • Objective uncertainty due to differing jurisprudential orientations or administrative decisions regarding the existence of the obligation to contribute.

In this regard, the INPS states that this applies prediction Subject to full payment affiliate Contributions due. The new scale for 5 percent Applies to contributions with The last date for payment From January 1, 2023.

“For outstanding debt exposures on the aforementioned date, taking into account the changes in the amount of statutory interest that have occurred over time, the interest payable will be calculated according to the rates in force on the relevant effective dates.”

more statutory interest rate This is also reflected in Payments made by INPS. Scale 5 percentin fact, is applied to the late delivery retirement benefits and perform End of service Based on Termination of service effective January 1, 2023.

INPS – Circular n. 2 from 4 January 2023
The decision of the Minister of Economy and Finance dated December 13, 2022 containing the “adjustment of the legal interest rate” published in the Official Gazette No. 292 from December 15, 2022
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