Italy Postpones Deadline for Certain Tax Payments

Jul 6, 2020 | VAT Updates

VAT Updates Europe

The deadline for payments of tax due resulting from relevant income tax returns, regional tax on productive activities (IRAP) returns and value added tax (VAT) returns has been extended from 30 June 2020 to 20 July 2020 for certain taxpayers.

A 0.4% interest will then apply to late payments made between 21 July 2020 and 20 August 2020. The deadline extension applies with respect to taxpayers exercising economic activities falling within the synthetic indexes of reliability (indici sintetici di affidabilità fiscale, ISA), as approved by the Ministry of Economy and Finance, as well as similar taxpayers which fulfil the same requirements, and taxpayers opting for the favourable tax regime for small enterprises, which do not qualify for the extension granted by Law Decree No. 34 of 19 May 2020. The deadline extension is provided by the Decree of the President of the Council of Ministers of 27 June 2020, published in Official Gazette No. 162 of 29 June 2020.

 

Source Credit – IBDF

 

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