Italy’s government has published Legislative Decree No. 10 of 5 August 2024 in the Official Gazette, which implements new measures aimed at enhancing the preventive composition procedure and simplifying tax compliance.
The Legislative Decree also updates the regulations governing assessments conducted by tax authorities that are linked to taxpayers’ expenditures or wealth increases.
Tax Compliance
The Legislative Decree introduces new deadlines for filing tax returns and tax payments, which are as follows:
- The tax authorities are required to publish the synthetic indices of reliability (ISA) by April 15 of the tax year;
- Taxpayers whose taxes or VAT are withheld on self-employment income that does not exceed EUR 100 can be settled within 16 December of the due year;
- The deadline for quarterly VAT payments has been revised from 16 November, 2024 to 16 December, 2024;
- Taxpayers must submit individual income tax returns (IRPEF) and the annual regional tax on productive activities ( IRAP) by 31 October, 2024;
- Taxpayers must file corporate income tax returns (IRES) by the last day of the tenth month following the end of the tax year.
Preventive Composition Procedure
The Legislative Decree implemented several provisions, which are as follows:
- Allowing taxpayers to opt into the preventive composition proposal by 31 July, 2024 or by the last day of the seventh month following the end of the tax year;
- Revising the regulations concerning advance payments required within the scope of the procedure;
- Introducing optional flat rates applicable to the highest declared income and income identified under the preventive composition process.
