Italy Update: The extension of the payment deadlines expiring on 30 June 2023 for professionals and companies subject to ISA is soon to be approved

With press release no. 98 of last June 14, the Ministry of Economy and Finance anticipated the issuance of a forthcoming regulatory provision with which the terms of payment of the sums resulting from the tax returns, IRAP and VAT of professionals and companies that carry out activities for which the Synthetic Indices of Tax Reliability (ISA) are approved, will be extended. now scheduled to expire on June 30, 2023.

Following this forecast, the payment of taxes (balance 2022 and first advance payment 2023) deriving from the declaration for the tax period 2022 must be performed:

by 20 July 2023, without any increase (as an ordinary expiry date after extension);
by 31 July 2023, applying an increase of 0.40 % (deadline, however, not deferred).
According to the clarifications provided by the MEF, the extension will also concern in particular those who present causes for exclusion from ISAs, subjects who apply the facilitated flat-rate regime and / or the advantageous tax regime for youth entrepreneurship and mobile workers and subjects participating in companies, associations and companies subject to ISAs that impute income for transparency pursuant to art. 5, 115 and 116 of the Tuir.

By Quorum, Italy, a Transatlantic Law International Affiliated Firm.

For further information or for any assistance please contact italy@transatlanticlaw.com

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