Decree Law n.34 of 30.04.2019, as converted into Law n. 58 of 28.06.2019, so-called “Growth Decree”
Please find here the new provisions on tax matters introduced by Decree Law n. 34 of 30.04.2019 (so-called “Growth Decree”) as converted into Law n. 58 of 28.06.2019.
EXTENSION OF THE DEADLINE FOR THE ELECTRONIC SUBMISSION OF INCOME AND IRAP TAX RETURNS
Art. 4-bis par.2 of converted DL 34/2019 provides for the extension of the deadline for the electronic submission of INCOME and IRAP tax returns:
- from 30 September to 30 November for “calendar year” taxpayers;
- from the end of the ninth to the end of the eleventh month after the end of the fiscal year for “non calendar year” subjects.
The extension applies to all taxpayers starting from the REDDITI 2019 and IRAP 2019 tax return forms. Therefore, “calendar year” taxpayers shall be required to file their REDDITI 2019 and IRAP 2019 tax returns for the fiscal year 2018 electronically by 2.12.2019 (as November 30 is a Saturday)
Submissions in the presence of extraordinary transactions
On the other hand, the deadlines for the telematic submission of income and IRAP tax returns remain unchanged in the event of:
- liquidation, bankruptcy and compulsory administrative liquidation;
- transformation, merger and demerger.
In such cases, therefore, the deadline for the electronic filing of returns remains the last day of the ninth month following the expected “event”.
Formalities “connected” to the filing of income and IRAP tax returns
As a consequence of the extension, the deadlines for the formalities connected to the REDDITI and IRAP tax returns filings are also postponed; examples of such formalities are:
- keeping the register of depreciable and amortisable assets;
- drafting and signing an inventory;
- printing hard copies of the digital accounting books;
- closing of the procedure for the alternative storage of tax-relevant computer documents.
TAX RATE REDUCTION ON REINVESTED EARNINGS (SO-CALLED “MINI IRES”)
Article 2 of converted DL 34/2019 completely rewrites the provisions of the so-called “mini IRES”, a tax incentive introduced in 2019 to replace the ACE (Allowance for Corporate Equity) that applies a lower corporate income tax (IRES) rate to the portion of the total taxable income accrued to freely disposable reserves. The new version of the rule only requires that profits be set aside to reserves, without necessarily being reinvested in new assets and for the hiring of personnel.
This incentive is addressed to:
- IRES taxpayers ((corporations, commercial entities, etc.); and
- IRPEF taxpayers carrying on business activities (sole proprietorships, general partnerships and limited partnerships), provided that they adopt an ordinary accounting regime.
Lower tax rate
When fully operational (which means from 2023 for “calendar year” subjects), the corporate income tax (IRES) rate shall be reduced by 4 percentage points (the income portion subject to the lower rate is therefore subject to a rate of 20%).
In the meantime, the rate reduction shall be equal to:
- 5 percentage points (i.e., a tax rate of 22.5%) in 2019;
- 5 percentage points (i.e., a tax rate of 21.5%) in 2020;
- 3 percentage points (i.e., a tax rate of 21%) in 2021;
- 5 percentage points (i.e., a tax rate of 20.5%) in 2022.
For instance, a company with a taxable income of EUR 300,000.00 for the year 2019, that has set aside EUR 120,000.00 of profits for the year 2018 on 29.04.2019:
- the income portion set aside (EUR 120,000.00) shall be subject to the lower rate of 22.5%;
- the remaining portion (EUR 180,000.00) shall be subject to the regular rate of 24%;
- The corporate income tax amount to be paid amounts to EUR 70,200.00 (120,000.00 x 22.5% + 180,000.00 x x24%);
- with tax savings amounting to EUR 1,800.00.
As in the original version of “mini IRES”, retained earning accrued to non freely disposable reserves, that is to say, reserves created with earnings from accounting adjustments (for instance, appropriations to unrealised gains on foreign exchange transactions reserves).
The implementing provisions for the new incentive shall be established in a decree by the Ministry of Economy and Finance.
SUPER DEPRECIATION – REINTRODUCTION
Art. 1 of converted DL 34/2019 provides for the re-introduction of the super depreciation, with a 30% increase of the cost of investments made:
- between 01.04.2019 and 31.12.2019;
- Or, by 30.06.2019, provided that the relevant order be accepted by the seller and advances equal to at least 20% of the purchase price paid for by the purchaser within 21.12.2019.
New cap for eligible investments
Investments eligible for the tax incentive cap at 2.5 million Euro, so the benefit does not apply to the part exceeding the cap.
INCREASED DEDUCTIBILITY OF THE MUNICIPAL REAL ESTATE TAX
Art. 3 of converted DL 34/2019 provides for the increase in the deduction from corporate and professional income of the municipal real estate tax (IMU) on real estate that qualifies as capital assets, on a graduated basis, starting from the 2019 “calendar” fiscal year until full deduction starting from the 2023 “calendar” fiscal year .
With a further amendment to art.14 of Legislative Decree23/2011, art. 3 of converted DL 34/2019 provides that the IMU deductibility percentage be gradually increased as follows:
- 50% for the fiscal year immediately following the one current as at 12.2018 (2019 for “calendar year” subjects).
- 60% for the fiscal year immediately following the one current as at 12.2019 and as at 31.12.2020 (2020-2021 for “calendar year” subjects).
- 70% for the fiscal year immediately following the one current as at 12.2021 (2022 for “calendar year” subjects).
- 100% afterwards, from the fiscal year immediately following the one current as at 12.2022 (2023 for “calendar year” subjects).
EXTENSION OF THE TIME LIMIT FOR ISSUING THE INVOICE
As a consequence of the amendment introduced by art.12-ter of converted DL 34/2019 to art. 21 par. 4, first sentence of DPR 633/72, starting from 01.07.2019 the immediate invoice maybe issued within 12 days from the moment of the transaction as determined pursuant to art. 6 of DPR 633/72.
This supersedes the provision of art. 11 par. 1 letter b) of Decree Law 119/2018 that stated a 10-day deadline from the moment of the transaction for the issuing of the document.
VIRTUAL STAMP DUTY ON ELECTRONIC INVOICES – SIMPLIFICATIONS
According to the provisions of art. 12-novies of converted DL 34/2019, and with regard to the method of calculating the stamp duty, the Italian tax authorities will calculate the amount of stamp duty due on the basis of the data provided in the e-invoices transmitted through the interchange system and check that the relevant payment has been duly recorded.
This procedure shall apply to electronic invoices transmitted through the interchange system from 01.01.2020.
DEADLINES FOR THE TELEMATIC TRANSMISSION OF RECEIPTS
Art. 12-quinquies par.1 of converted DL 34/2019 introduces a simplification of the deadlines for the telematic transmission of receipts.
Deadlines for the telematic transmission of receipts
According to the new provisions, the telematic transmission of receipts under art. 2 para. 1 of Legislative Decree127/2015 is to be made within 12 days of the relevant transactions, as determined by art. 6 of DPR 633/72.
No change has been introduced concerning the daily storage of data and the deadlines for the periodic settlements.
Moratorium on penalties for the first half-year
Art. 12-quinquies para.1 of converted DL 34/2019 states that, in the first six months after the coming into force of the receipts storage and transmission obligation, the sanctions of art. 2 para. 6 of Legislative Decree127/2015 shall not apply provided that the taxable person transmits the receipt data within the month immediately following the month of the transaction (without prejudice for the periodic tax settlement deadline).
The 6 months start:
- from 01.07.2019 for subjects with a turnover in excess of EUR 400,000.00 in 2018 and who are not included within the exemption cases referred to in Ministerial Decree 10.5.2019;
- from 01.01.2019 for all other subjects who carry out transactions under art. 22 of DPR 633/72 and who are not included in the exemption cases.
According to the provisions of the subsequent circular letter, Inland Revenue Service n. 15 of 29.06.2019, the moratorium shall also apply, under certain circumstances, to subjects who were not yet equipped with online cash registers at the time of the coming into force of this obligation.
Elimination of ”area” exeptions
The new provisions on the deadlines for the telematic transmission of receipts replace para. 6-ter of art. 2 of Legislative Decree127/2015.Consequently, this cancels the provision that introduced the possibility of a ministerial decree that would identify specific geographic areas in which retailers or similar activities could continue to certify their transactions by means of till or tax receipts.
PERIODIC VAT SETTLEMENTS COMMUNICATION – SIMPLIFICATIONS
Art. 12-quater of converted DL 34/2019 provides that subjects required to send periodic settlement data pursuant to Article 21-bis of DL 78/2010 may send the communication relating to the fourth quarter of the tax period with the annual VAT return, provided that the latter is submitted by the month of February of the year following the year of reference.
In the absence of additional information, the new submission mode should apply starting from the fourth quarter of 2019. The possibility for VAT taxable persons to send this communication “autonomously” within February of the year following the quarter to which it refers remains unaffected.
TRANSFERABILITY OF QUARTERLY VAT CREDITS
Art. 12-sexies of converted DL 34/2019 provides the opportunity for VAT taxable persons to transfer their quarterly VAT credits.
To this end, the requirements for access to interim reimbursements governed by Article 38-bis of Presidential Decree 633/72 must be met.
The limit of the transferability of annual VAT credit arising from the annual VAT return only, deriving from the literal formulation of Article 5, para. 4-ter of DL 70/88 , is therefore non longer valid.
The new rules that allow the transfer of quarterly VAT credits will be applicable to requests for refunds filed after 1.1.2020.
LETTERS OF INTENT SIMPLIFICATION
Art. 12-septies of converted DL 34/2019 provides some simplifications concerning declarations of intent and an increase in the relevant penalties.
Letters of intent use
With regard to the procedure on the use of letters of intent, the following new provisions apply:
- a purchaser or principal with the status of frequent exporter is no longer required to provide his suppliers with a letter of intent and the related receipt of transmission as proof of e-filing with the Italian tax authorities;
- the seller or service provider will have to include the protocol number of the receipt of transmission released by the Italian tax authorities, not simply those of the declaration itself;
- a summary of the information contained in the letters of intent received in the supplier’s annual VAT return (box VI) is no longer required.
Letters of Intent Logs
Frequent exporters and their suppliers are no longer required to:
- adopt a progressive numbering of the letters of intent;
- record the letters of intent in appropriate registers and keep them.
Penalties for failure to produce a letter of intent filing receipt
The supplier or service provider who carries out transactions on a VAT-exempt basis, without having first verified by electronic means that the letter of intent was submitted to the Inland Revenue Service, is subject to a proportional administrative sanction (from 100% to 200% of the tax, without prejudice to the obligation to pay the same) and no longer a fixed administrative sanction (from 250.00 to 2,000.00 Euro).
Effective date and method of implementation
The new provisions shall come into force in 2020 and the relevant method of implementation will be defined by a resolution by the Tax Authority.
DEDUCTION OF OVERCHARGED VAT – RETROACTIVE APPLICATION
As a consequence of the amendment made by art. 6 para.3-bis of converted DL 34/2019 to art. 1 para.935 of Law 201/2017, the retroactive effect of the provisions of art. 6 para. 6 of Legislative Decree472/97 is expressly recognised, in case of excess VAT payments erroneously made by the seller or service provider.
Therefore, the rule applies even for cases prior to 1.1.2018 (date of coming into force of Law 205/2017), that, in the event of erroneous charging of the tax, the purchaser/ principal retains the right to deduct the VAT amounts applied in excess by the supplier, except in cases of fraud, and is subject to a penalty of 250.00 to 10,000.00 Euro, rather than the more onerous 90% of the tax unduly deducted.
The new law supersedes some recent rulings of the Court of Cassation – passed after the amendment introduced by Law 205/2017 – which, in cases preceding the coming into force of the rule (1.1.2018), and in accordance with the principle of in dubio pro reo, decided for the application a fixed amount sanction, excluding, however, the right to deduct VAT charged in excess (see Court of Cassation No. 24001 of 3.10.2018 and Court of Cassation No. 14179 of 24.5.2019).
SIMPLIFICATION OF ISA FORMS
Art. 4-quinquies of converted DL 34/2019 added a new para. 4-bis to art. 9-bis of DL 50/2017, providing that, when compiling the reporting forms for the purposes of the Summary Tax Reliability Index (ISA), it will no longer be necessary to indicate the data already contained in the other boxes of the REDDITI forms.To this end, the data already filed with the Inland Revenue Agency which are useful for the filling in of the ISA forms are made available to economic operators.
This provision shall be applicable from the tax year current as at 31.12.2020 (REDDITI 2021 forms).
Art. 12-octies of converted DL 34/2019 amends art. 7 para.4-quater of DL 357/94 establishing that the keeping of any accounting books with electronic means on any support is considered to be regular even when the data are not recorded on paper within the terms of law (ie within 3 months of the deadline for filing the tax return for the reference period), provided that, at the time of access, inspection or verification, the register itself:
- is updated on the electronic systems;
- can be printed at the request of and in the presence of the relevant authorities.
This provision is in force since 30.06.2019 (date of coming into force of DL 34/2019 conversion law) and extends the simplification that applies to VAT books to all accounting books.
“LIMITED DISPOSAL ”INVESTMENTS – AMENDMENTS
Transfer of “qualifying shareholdings”
The new para.2-bis of art. 177 of the Consolidated Law on Income tax (TUIR) provides that when the receiving company does not end up holding a control participation in compliance with art. 2359 n.1 of the Italian civil code, or does not increase its control of the company due to legal or statutory obligations, it can still apply the tax neutrality regime where the following requirements are met:
- the contributed participation represents voting rights that can be exercised in the ordinary shareholders’ meeting higher than 2% or 20%, or an equity stake higher than 5% or 25%, depending on whether they are securities traded on regulated markets or other equity investments;
- the participation is contributed to existing or new companies wholly owned by the contributor.
Stakes in holding companies
For the conferment of shareholdings held in companies whose activity consists exclusively or mainly in the acquisition of shareholdings (so-called “holding companies”), the percentages of voting rights and shareholdings in the share capital must refer to all the indirectly owned companies that carry out a commercial business, according to the definition set forth in art. 55 of the TUIR.
The new para.2-bis of art. 177 of the Consolidated Law on Income tax (TUIR) also provides that, with regard to the contributor, to compute the voting rights percentage and participation it is necessary to take into account any reduction in the number of shares produced by the holding chain.
Specific rules are laid down for the application of participation exemption in the event of the contribution of “qualifying” shareholdings through the limited disposal regime.
In order to benefit from the 95% exemption on capital gains from the sale of equity investments, it is established that the period of ownership (Article 87, para. 1 letter a) of the TUIR), usually equal to 12 months, must be extended up to the sixtieth month preceding that in which the shareholdings were transferred.
PATENT BOX – DIRECT DETERMINATION INSTEAD OF A RULING
By virtue of Art. 4 of converted DL 34/2019, from 2019 corporate income holders who opt for the Patent box are entitled to determine by themselves the portion of income for which the incentive is granted and record the relevant amount directly in the relevant tax return, avoiding the advance ruling procedure with the Italian Tax Authority.
This procedure can be adopted also in the presence of pending rulings, provided that the relevant agreement has not been accepted yet.If that is the case, then the taxpayer shall notify the Tax Authority of its express waiver of the procedure.
Split in three yearly instalments
Subjects willing to opt for this simplification are required to split the downward tax adjustment into three equal annual instalments, to be detailed in the income and IRAP tax returns for the fiscal year in which the option is exercised and in those of the two following years.
TAX INCENTIVES FOR BUSINESS COMBINATIONS
Article 11 of converted DL 34/2019 reintroduces the so-called “business combinations” incentive allowing companies involved in mergers, demergers or business combinations between 01.05.2019 (date of coming into force of the DL) and 31.12.2022.
The benefit consists of a tax-free step-up of the higher values (up to 5 million Euro) booked as a result of such extraordinary operations.
TAX CREDIT FOR PARTICIPATION IN INTERNATIONAL TRADE FAIRS
Art. 49 of converted DL 34/2019 provides for the recognition, in 2019, of a tax credit with regard to expenses paid by SMEs to participate in international trade fairs taking place in Italy or abroad.
The tax credit amounts to 30% of expenses, up to a maximum of EUR 60,000.00.
The tax credit is granted:
- until the maximum amount available is exhausted;
- in accordance with the de minimis
How to use it
The tax credit is available only as a set-off in the F24 form.
TAX CREDIT FOR PACKAGING
Art. 26-bis of converted DL 34/2019 introduces incentives to increase the percentage of reusable or recyclable packaging materials sold.
The goods supplier may grant a rebate on the price of subsequent purchases amounting to 25% of the price of the packaging containing the goods and shown on the invoice.
This allowance is recognised upon return of the packaging within one month from the purchase date.
Sellers reusing packaging or practicing separate packaging collection for recycling purposes shall receive a tax credit equal to double the amount of rebates granted to the purchasers, even when not used.
The tax credit is granted:
- up to a maximum amount of EUR 10,000.00 per beneficiary
- Within a maximum available limit of 10 million Euro for the year 2020.
The tax credit is available only as a set-off in the F24 form.
TAX CREDIT FOR THE PURCHASE OF RECYCLED PRODUCTS
Art. 26-ter of converted DL 34/2019 introduces some incentives for the purchase of recycled or reused products.
For 2020 a tax credit equal to 25% of the purchase price is recognised on:
- semi-finished and finished products made for at least 75% from recycled waste or scraps;
- quality compost made by processing organic waste.
Enterprises and self-employed workers
The contribution referred to in paragraph 1 shall be granted in the form of a tax credit to companies and self-employed persons who acquire the goods referred to in paragraph 1:
- up to a maximum annual amount of 10,000 Euro for each beneficiary;
- up to an overall limit of 10 million Euro for the year 2020.
Purchasers of the abovementioned goods for purposes unrelated to the exercise of the economic or professional activity are eligible for the contribution as follows:
- up to a maximum annual amount of 5,000 Euro for each beneficiary;
- up to an overall annual limit of 10 million Euro for the year 2020.
The contribution is advanced by the seller of the goods as a discount on the sale price and is refunded to the seller in the form of a tax credit of the same amount.
How to use the tax credit
The tax credit is available only as a set-off in the F24 form.
PROVISIONS FOR THE VOLUNTARY CORRECTION OF TAX RETURNS
Art. 4-decies of converted DL 34/2019 introduces art. 13-bis of Legislative Decree 472/97 titled “Voluntary partial correction of tax returns”.
The new provisions concern three different cases:
- by means of an interpretative regulation, it provides that the the correction of tax returns is completed even in the case of payment of the taxes due in instalments, provided that the payment of the tax, of the sanctions and of the interest is made within the terms of the law in order to avail itself of this benefit;
- if the taxpayer pays the tax due late, the redemption will be completed with the subsequent payment of the penalty and interest; in this regard, in order to determine the penalty, reference should be made to the time when full payment was made, while interest is due for the entire period of delay;
- in the event of late payment of the tax instalments with different deadlines, the taxpayer may either redeem the individual payments, with the reductions set out in Article 13 of Legislative Decree No. 472/97, or redeem the total payment by applying the reduced sanction identified on the basis of the date of payment.
Scope of application
The new provisions only apply to taxes due to the Inland Revenue Service.
PAYMENTS USING THE F24 FORM – EXTENSION AND SIMPLIFICATIONS
Extension of the use of the F24 form
It is established that the rules on single payment and compensation, as set out in Article 17 of Legislative Decree 241/97, also apply to:
- licence taxes;
- school fees.
This extension will apply from 1.1.2020.
FORMAL CHECKS OF TAX RETURNS – SIMPLIFICATIONS
Art. 4-bis para.1 of converted DL 34/2019 amends art. 36-ter of DPR 600/73, stating that, as part of the formal control of tax statements, the tax authorities shall not ask taxpayers for documents relating to information already in their possession.
This exclusion does not apply where the request concerns:
- verification of the existence of subjective requirements that are not clearly determined from the information in the tax register;
- information already in the possession of the tax authorities, but that does not coincide with the data declared by the taxpayer.
Apart from these two cases, requests for documents are to be considered void.
MANDATORY CONSULTATION OF THE TAXPAYER
Article 4-octies of the converted Legislative Decree 34/2019 introduces the mandatory consultation of the taxpayer before the tax assessment.
Before issuing a tax assessment, the tax authorities are required to invite the taxpayer to a haring, pursuant to art. 5 of Legislative Decree 218/97, in order to start a tax settlement procedure.
This obligation is not present:
- in especially urgent cases, duly motivated, or where there is a danger of non-payment;
- in the presence of a report on findings by the tax authorities;
- in case of other preventive measures already provided for by law;
- in case of “partial” assessments under art. 41-Bis of DPR 600/73 and partial adjustment notices under art. 54 para. 3 and 4 of DPR 633/72
In case an agreement is not reached, the tax assessment shall explicitly refer to the clarifications and documents provided by the taxpayer in the consultation phase.
If the tax authorities do not consult the taxpayer, the tax assessment is invalid provided that the taxpayer proves, during the litigation, the reasons that he could have shown in the consultation process (so-called “test of strength”)
In case an agreement is not reached after consultation, the taxpayer shall not be allowed to reach an agreement after the documents have been served.
Extension of time limits
The rule provides that if there are less than 90 days between the date of appearance for the hearing and the forfeiture of the power of assessment, the time limit is automatically extended by 120 days.
The new rules shall be applicable to tax assessments issued from 01.07.2020.
KNOWLEDGE OF DOCUMENTS AND SIMPLIFICATIONS
Article 4-septies of the converted Legislative Decree 34/2019 amends art. 6 of the Charter of fundamental rights of Taxpayers.
Knowledge of documents
The tax authorities are required to take the necessary steps to ensure that the taxpayer has the tools at his disposal to fulfil the obligations required of him, at least 60 days before the deadline granted to the taxpayer for such obligations.
The innovative element concerns the term, since in the previous formulation the rule prescribed the performance of these tasks “in good time”.
Awareness of rules
Forms and instructions must be comprehensible to taxpayers who have no knowledge of tax matters. In addition, the tax administration must ensure that the taxpayer can comply with tax obligations with the minimum number of requirements and in the least costly and easiest possible manner.
TAX REGIME FOR INBOUND WORKERS – AMENDMENTS
With regard to the impatriates regime under Art. 16 of Legislative Decree 147/2015, by virtue of art. 5 para. 1-2 of converted DL 34/2019, concerning subjects who transfer their tax residence to Italy for tax purposes as of tax period 2020 are subject to IRPEF on a portion equal to 30% of their income from employment, income assimilated to employment income, self-employment and business income earned in Italy, starting from the tax year of transfer and for 4 tax subsequent periods.
The regime extends also to workers who started an entrepreneurial activity in Italy from 2020.
In order to qualify:
- workers should not have been resident in Italy in the two tax periods preceding the transfer and undertake not to transfer their tax residence abroad before the expiry of two years after their relocation to Italy; and
- the working activity must be performed mostly in Italy.
The Regime applies for 5 additional tax periods in specific circumstances (presence of at least one minor or dependent child or purchase of an Italian residential property).
Moving to a Southern Region
In case of individuals moving to Abruzzo, Molise, Campania, Puglia, Basilicata, Calabria, Sicily or Sardinia, income produced in Italy shall contribute to the overall income of the subject for only 10%.
Income taxes apply to only 50% of the income of professional athletes (the reduction to 10% is never applicable).
In order to opt in, a special contribution of 0.5% will be due on the taxable base of the income earned in Italy.
Workers not registered in AIRE (registry of Italian citizens residing abroad)
Impatriate workers not registered in AIRE who come back to Italy from 01.01.2020 can also opt in, provided that they qualified as tax resident of a foreign Country, according to the content of the Double tax treaty in place during the two tax periods immediately preceding the transfer.
INBOUND PROFESSORS AND RESEARCHERS – TAX REGIME AMENDMENTS
With reference to the favourable tax regime for professors and researchers under art. 44 of DL 78/2010, by virtue of art. 5 para. 4-5 of converted DL 34/2019, subjects who transfer their tax residence to Italy form 2020 shall:
- enjoy an extension of the duration of the tax benefits from 4 to 6 tax period;
- enjoy and extension of the duration of the tax benefits to 8, 11 and 13 tax periods if the taxpayers meet specific requirements (purchase of a house or in presence of underage or dependent children).
Professors and researchers not registered in AIRE
Professors and researchers not registered in AIRE who come back to Italy from 01.01.2020 can also opt in, provided that they qualified as tax resident of a foreign Country, according to the content of the Double tax treaty in place during the two tax periods immediately preceding the transfer.
GENERAL SERVICE TAX (TASI) EXEMPTION FOR REAL ESTATE FOR SALE
Art. 7-Bis of converted DL 34/2019 states that from 01.01.2022 TASI ( municipal tax paid for city services) is not applied when a real estate property is built by an enterprise with the aim to be subsequently transferred, for as long as the aim is true and they are not rented.
EXTENSION OF THE DEADLINE FOR THE SUBMISSION OF IMU/TASI RETURNS
By virtue of art. 3-ter of converted DL 34/2019, the IMU/TASI tax return, if mandatory, must be filed by 31 December (rather than by 30 June) of the year immediately following the year of taxation.
This postponement of the deadline shall apply when the rule is in full force and effect and already with regard to 2018 returns, which shall therefore have to be filed by 31.12.2019.
LA NAIA DI ORONZO & PARTNERS remain at your disposal for any further or more thorough information regarding the matters described above.
Dott.ssa Monica DI Oronzo