Your questions – Income tax return, extension to July 20: here’s who can benefit from it and who can’t

The Ministry of Economy and Finance, with a press release dated June 14th, announced a regulatory provision – not yet issued at the time of writing – which extends to July 20th the annual tax payments scheduled for June 30th, but only for certain taxpayers, as has already happened in recent years. The payments resulting from the annual returns, taxes and contributions, were therefore extended to 20 July 2023 without increases, but only for VAT registered holders subject to the Synthetic Reliability Indicators or ISA. The extension concerns natural persons with a VAT number, including flat-rate taxpayers, entities, partnerships and joint-stock companies for IRES and IRAP who achieved revenues or fees not exceeding 5,164,569 euros in the previous year. Partners of partnerships and members of limited liability companies who have opted for tax transparency also benefit from the deferral. Alternatively, the payment can be made by 31 July with a 0.40% monthly increase, which should be related to the days between 20 July and the effective date of payment. The deferral does not concern natural persons without a VAT number and companies with revenues and proceeds exceeding 5,164,569 euros with 2022 financial statements approved in April or May, whose payment deadline remains fixed at 30 June, or by Monday 31 July by paying 0.40% more. For joint-stock companies that approved the 2022 financial statements in June 2023, making use of the 180-day deferral, the deadline has been postponed to 31 July without increases, or by 30 August with a 0.40% increase.

With the advice of Stefano Poggi Longostrevi