Taxes: extension to 20 July without interest

With the release of the Italian Dpcm in the “Gazzetta Ufficiale” on 29 June 2020, was made official the extension to 20 July of the payments due on 30 June, previously announced in a statement by the Italian Ministry of Finance (MEF).

The extension is aimed at all taxpayers, to give them the opportunity to honor the payments despite the difficult conditions resulting from the lock down and involves not only ISA subjects, but also:

  • taxpayers who adopt the tax advantage scheme for young entrepreneurs and mobile workers;
  • those applying the flat-rate scheme;
  • taxpayers participating in companies, associations and enterprises under the tax transparency regime;
  • those who have grounds for exclusion or inapplicability of the ISAs.

The Dpcm is composed of a single article and establishes that these entities are required to pay the amounts due by 20 July 2020 without any surcharge or by 20 August 2020 with a mark-up of 0.4%, by way of interest; in particular fall within the extension:

  • payments resulting from tax returns (mainly IRPEF and IRES), and VAT related to the additional positive components declared to improve the reliability profile;
  • payments of substitute taxes, such as IVIE and IVAFE or dry coupon payments on leases, as long as they are eligible for the extension;
  • IRAP payments when the conditions for the application of Article 24 Decree-law 34/2020 , which provides for the rebate of payments of the 2019 balance and the first advance payment for 2020 for individuals with revenues or compensation not exceeding 250 million euros in the 2019 tax period, are not met.

We would also point out that is currently being discussed a possible further extension to 30 September of the deadline for payments relating to tax returns and Irap 2020.