{"id":7312,"date":"2025-09-02T10:30:04","date_gmt":"2025-09-02T08:30:04","guid":{"rendered":"https:\/\/taxing.it\/?p=7312"},"modified":"2026-02-25T03:25:48","modified_gmt":"2026-02-25T02:25:48","slug":"payments-on-account","status":"publish","type":"post","link":"https:\/\/taxing.it\/it\/payments-on-account\/","title":{"rendered":"Pagamenti in acconto"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"7312\" class=\"elementor elementor-7312\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d92473d e-con-full e-flex e-con e-parent\" data-id=\"d92473d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-d69089d e-con-full e-flex e-con e-child\" data-id=\"d69089d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5d25a2b elementor-widget elementor-widget-text-editor\" data-id=\"5d25a2b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Introduction<\/h2><p>By 30 June and 30 November of each year, Italian taxpayers must make payment on account (acconto) of their tax liability for the current year.\u00a0 The amount to be paid by way of first and second account payments is primarily based on the tax due as shown in the tax return for the previous year (using the Historical Method for calculating the tax due) .\u00a0 Payment can be made by authorising your tax return preparer to mandate the Tax Agency to take the money from your account or by payment via the form F24 at any Italian bank or by home\/online\u00a0 banking (if you have an Italian bank account). The payment forms split the payment between the various taxes &#8211; each tax having its own payment codes on the form.<\/p><p>The payment on account concerns, as regards individuals, mainly:<\/p><ul><li>IRPEF &#8211; personal income tax and additional regional and municipal (comunale) taxes<\/li><li>Substitute tax due by taxpayers on the 5% flat rate tax regime for the self employed (regime forfettario)<br \/>The &#8220;Cedolare Secca&#8221; flat tax on Italian source rental income<\/li><li>IVIE and IVAFE ownership taxes on foreign real estate, financial assets and bank accounts<\/li><li>Social security contributions for traders and professionals.<\/li><\/ul><p>No payments on account are required in respect of investment income (income from capital)\u00a0 subject to Substitute Tax at the flat rate of 12.5% (Government Bonds) or 26%, nor to income subject to separate taxation.<\/p><p>No tax is due if the amount of tax due is less than Euro 51.65. No payment need be made in June (and so the whole payment falls due in November) if the total amount due is less than Euro 257.52.<\/p><p>Pensioners who are on the 7% flat tax regime for pensioners in the South of Italy do not need to make payments on account.<\/p><p>Payments on Account can be calculated according to one of two methods described below.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3bc4eb elementor-widget elementor-widget-text-editor\" data-id=\"b3bc4eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>The Double Whammy<\/h2><p>This system in the context of Italy&#8217;s year on year approach to tax payments and filings, means that, when you move to Italy from abroad, because no tax is actually payable in the first year of tax residence you may experience the &#8220;double whammy&#8221; in your second year. In that second year (by the end of June of Tax Year 2) you must pay not only all of the tax due on Tax Year 1 income but also the first payment on account of the Year 2 liability. The second payment on account of the Year 2 liability falls due at the end of November of Year 2.\u00a0<\/p><p>This means that in Year 2 you are essentially\u00a0 (assuming constant levels of income) paying two years of tax (since you have made no payment in Year 1) . In Year 3 since you will have paid (most of) the tax due on your Year 2 liability, you will be making payment only of the Year 3 liability (plus any extra tax on Year 2 liability, to the extent that the payments on account of the Year 2 liability do not cover the actual tax due (e.g. because the Year 2 liability is higher than the Year 1 liability. See this article for an example of the Year 2 &#8220;double whammy&#8221;.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-132b593 elementor-widget elementor-widget-text-editor\" data-id=\"132b593\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>The Historical Method<\/h2><p style=\"text-align: justify;\">Generally the calculation of the payment on account is done simply on the basis of prior year tax: &#8220;the historical method&#8221;.<\/p><p style=\"text-align: justify;\">Under this method taxpayers pay 40% of last year&#8217;s tax liability in June, and 60% of last year&#8217;s tax by the end of November. For most traders and professionals the split has been changed, effective FY 2020, to 50% in June and 50% in November.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3106f99 elementor-widget elementor-widget-text-editor\" data-id=\"3106f99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>The Forecast Method<\/h2><p style=\"text-align: justify;\">As an alternative to the historical method it is possible to use the forecast method.<\/p><p style=\"text-align: justify;\">The forecast method can be used when the taxpayer expects to realise income or profits in the current year which are lower than for previous years.<\/p><p style=\"text-align: justify;\">The choice between historical method and forecast method can be made for each individual tax. It is not necessary to apply one method to all taxes due.<\/p><p style=\"text-align: justify;\">In order to calculate the payment on account, using the forecast method, it is necessary to determine the presumed tax that will fall due for the relevant year, taking into consideration all the factors that go into calculating the tax liability &#8211; forecast total income, withholding taxes at source, tax credits (both domestic credits and foreign tax credits), a potential (future change of tax rates &#8211; difficult to predict)\u00a0 and <a href=\"https:\/\/taxing.it\/it\/list-of-deductions-and-deductible-expenses\/\" target=\"_blank\" rel=\"noopener noreferrer\">tax deductible items<\/a>.<\/p><p style=\"text-align: justify;\">This means effecting a simulation of the current year tax return and calculating the actual tax due on the basis of the simulation.<\/p><p style=\"text-align: justify;\">It is obviously difficult in mid November to come up with a 100% accurate simulation of the current year liability.\u00a0 Any underpayment, to the extent that the simulation is lower than the actual tax for the year, will be treated as generating a late payment penalty and <a href=\"https:\/\/taxing.it\/it\/table-of-interest-rates-income-tax\/\" target=\"_blank\" rel=\"noopener\">interest<\/a>.\u00a0 The Tax Agency has the power to apply an administrative penalty of 30% of the extra tax.\u00a0 However this can be reduced by immediate payment in case of assessment.\u00a0 Alternatively a taxpayer can automatically top-up the amount of tax underpaid, self assessing, and paying late payment interest and penalties under the &#8220;<a href=\"http:\/\/159.65.127.138\/tax-penalties-and-the-ravvedimento-operoso\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>ravvedimento operoso<\/em><\/a>\u00a0&#8221; rules.\u00a0 \u00a0The penalty will depend on when payment of tax is actually made.\u00a0 Note however that the reduced penalties under the <em>ravvedimento<\/em> scheme only apply where the Tax Agency has not yet started taking proceedings to recover the underpaid tax.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Introduction By 30 June and 30 November of each year, Italian taxpayers must make payment on account (acconto) of their tax liability for the current year.\u00a0 The amount to be paid by way of first and second account payments is primarily based on the tax due as shown in the tax return for the previous [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,129,151,722],"tags":[],"class_list":["post-7312","post","type-post","status-publish","format-standard","hentry","category-technical-resource","category-compliance","category-income-tax-for-individuals","category-menupost"],"yoast_head":"<!-- This site is optimized 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