Italy has announced new guidelines and procedures for corporate tax return filings for 2024 regarding the tax year 2023. The main change relates to the revised deadline for filing returns as per the corporate tax (IRES) returns.
The new instructions specify that the return must be filed by the end of the 9th month following the end of the tax period. This is a significant change from the previous deadline of the last day of the 11th month as per Legislative Decree No. 1 of January 2024.
As stipulated in Legislative Decree No. 13 of 12 February 2024, the deadline for tax filings is the 15th day of the 10th month after the end of the tax period or 15 October for any calendar tax year for the tax period ending on 31 December 2023.
For the ongoing tax period as of 31 December 2024 and beyond, the deadline for filing returns is the last day of the 9th month or 30 September for those adhering to the calendar year. Comparable adjustments have also been implemented for submitting returns related to IRAP, individuals, and partnerships.
Deadline modifications are crucial in the context of transfer pricing. As per Italy’s TP regulations, taxpayers must file transfer pricing documentation by the tax return deadline to benefit from the penalty protection. Additionally, CbC notifications must be submitted by the tax return deadline.
