The Italian Tax Agency has issued a resolution (no .64/E of 28 June), regarding the changes introduced by Article 12 V of Decree no. 34/2019 (Decreto Crescita/Growth Decree 2019). The Decree extended the tax payment deadline of 1 July (normally 30 June, but being a Sunday the deadline was automatically moved back to the next working day) to 30 September 2019. This deadline concerns the annual payments of direct taxes, IRPEF, IRAP (the balance of the 2018 liability and payment on account of 2019) and final VAT balance due by individuals carrying on a business activity. The extension applies to those subject to the new ISA regime, including those registered under the flat-rate system (regime forfetario).
The extension of the deadline ONLY applies to those taxpayers carrying out a business activity to which the new ISA regime applies. The ISA regime is a system of parameters replacing the previous sector studies, which indicate if a business taxpayer is providing reliable information to the Tax Authorities or not. The ISA regime was brought into law too early and software manufacturers have been struggling to produce the necessary software for preparation of returns and the Italia Tax Agency has had to deal with last minute queries and the issue of guidelines.
For any any advice regarding the status of your payments or assistance with your tax return please contact us.