From 15 May 2017 default interest will decrease for those who receive a tax collection notice from the tax authorities and pay late. This was communicated by the Revenue Agency, specifying that the annual interest rate will be equal to 3,50% for 2017, against 4,13% in 2016.
In fact, the taxpayer who receives a file and does not make payment within 60 days of notification is required to pay default interest at a rate determined annually by provision of the Director of the Agency.
Default interest was recalculated in the light of the average bank lending rates, lower than the estimates provided by the Bank of Italy.
