The Ravvedimento Operoso Procedure derives from the Italian word which can be literally translated as “redemption” or “penitence”. It is, however, in this context not a religious concept, but simply a procedure that allows taxpayers who have missed a deadline for payment, or who have underpaid tax, to pay the tax late, on their own initiative, with a smaller penalty compared to the rather stiff penalty that would apply, were the Tax Agency to make an assessment. How much you pay depends on how late you make the payment. The system is a bit fiddly so you should check with your accountant or tax adviser to get an ad hoc calculation of the penalty for late payment and the relevant codes to show on the F24 tax payment form. The table below summarises the main principles. Interest will also be due in addition to these penalties from the due date to the date of payment.
The Ravvedimento procedure is only available providing that the authorities have not started proceedings to assess the tax due.
| Ravvedimento – reduced penalties for spontaneous late payment | |||
| Time After Deadline when Payment is Made | Normal Penalty | Reduced penalty | Effective penalty with ravvedimento |
| Within 14 days | 15% | 1/10 | 0.10 % for each day late |
| From 15 to 30 days | 15% | 1/10 | 1.5% |
| From 31 to 90 days | 15% | 1/9 | 1.67% |
| From the 91st day to the deadline for filing the tax return | 30% | 1/8 | 3.75% |
| Prior to the filing date for the following year’s tax return | 30% | 1/7 | 4.29% |
| After the filing deadline for the following year’s tax return | 30% | 1/6 | 5% |