Fiscal deadlines July 20: VAT, personal income tax and more

Up until the very end, there was hope for a new extension, which in the end did not arrive: 20 July is the D-day of the summer taxman, with deadlines ranging from Irpef to VAT, from Ires to Irap, passing for substitute taxes (including the flat tax of VAT numbers in a flat-rate regime) the stamp duty on electronic invoices, the dry coupon and various additional

The summer tax d-day has arrived. There are so many tax deadlines of 20 July 2020: from Irpef to VAT, from Ires to Irap, passing through substitute taxes (including the flat tax of VAT numbers in a flat-rate regime) the stamp duty on invoices electronics, the dry coupon on rents and a flood of surcharges.

Up until the end, there was hope for a new extension, given that the government had already postponed the ordinary deadlines 30 of June and 30 July, with an increase of 0,4%, on 20 July and 20 August respectively. But Alessio Villarosa, undersecretary of the Treasury, explained during the question time in the House Finance Committee that a further postponement would have been impossible, because it would have affected "the elaboration of the self-liquidated tax forecasts of the Update Note to the Def which, as known, must be presented to Parliament by the end of September”.

Here, then, are the main tax deadlines of July 20, 2020, as they result from calendar of the Revenue Agency.

PIT

First down payment 2020 and balance 2019

Payment, in a single solution or as the first installment, of the Irpef resulting from the annual returns, as the balance for the year 2019 and as the first down payment for the year 2020, without surcharge.

Adjustment to the results of the "Synthetic Tax Reliability Indexes" (Isa): payment in a single solution or as the first installment

Payment in a single solution or as the first installment of Irpef relating to the higher revenues or fees indicated in the tax return, without any increase.

Irpef advance on income subject to separate taxation to be indicated in the return and not subject to withholding tax

Payment, in a single solution or as the first installment, of the tax advance equal to 20% of the income subject to separate taxation to be indicated in the return and not subject to withholding tax, without any increase.

IVA

Adjustment to the results of the "Synthetic Tax Reliability Indexes" (Isa): payment in a single solution or as the first installment

Payment in a single solution or as the first installment of VAT relating to the higher revenues or fees indicated in the tax return, without surcharge.

VAT: payment of the 2019 balance

Payment, in a single solution or as the first installment, of the VAT balance relating to 2019 resulting from the annual VAT return, increased by 0,40% as interest per month or fraction of a month for the period 16/03/2020 - 20/07 /2020.

Ires subjects: payment of the 2019 VAT balance

Payment, in a single solution or as the first installment, of the VAT balance relating to 2019 resulting from the annual return, increased by 0,40% per month or fraction of a month for the period 16/03/2020 - 20/07/2020.

IRES

Adjustment to the results of the "Synthetic Tax Reliability Indexes" (Isa): payment in a single solution or as the first installment

Payment in a lump sum or as the first installment of IRES relating to the higher revenues indicated in the tax return without any surcharge.

Ires subjects: payment of the 2019 balance and first 2020 Ires down payment

Payment, in a single solution or as the first installment, of IRES, as the balance for the year 2019 and the first advance for the year 2020, without any surcharge.

Subjects who adopt the Ias/Ifrs and who opt for the total realignment of the differences: Ires and Irap payment on the algebraic sum of the differences

Payment, in a single installment, of IRES and IRAP on the total realignment of the differences (global balance) following the adoption of the Ias/Ifrs, without any increase.

Shell company: payment of the 10,5% surcharge on the ordinary IRES rate

Payment, in a single solution or as the first installment, of the Ires surcharge of 10,5%, as the balance for the year 2019 and the first advance for the year 2020, without any surcharge.

IRAP

Adjustment to the results of the "Synthetic Tax Reliability Indexes" (Isa): payment in a single solution or as the first installment

Payment in a single solution or as the first installment of IRAP relating to the higher revenues or fees indicated in the tax return, without any increase.

Irap: first down payment 2020 and balance 2019

Payment, in a single solution or as the first installment, of the IRAP resulting from the annual returns, as the balance for the year 2019 and the first advance for the year 2020, without any increase.

Ires subjects: payment of the 2019 balance and first 2020 advance of Irap

Payment of Irap, in a single solution or as the first installment, as the balance for the year 2019 and the first advance for the year 2020, without any surcharge.

Subjects who adopt the Ias/Ifrs and who opt for the total realignment of the divergences

Payment, in a single installment, of IRES and IRAP on the total realignment of the differences (global balance) following the adoption of the IAS/IfRS, without increase.

SUBSTITUTE TAXES

Facilitated flat-rate scheme: payment of substitute tax

Payment, in a single solution or as the first installment, of the Irpef substitute tax and the regional and municipal surtaxes and IRAP due on the basis of the 2020 Personal Tax Return, as the balance for the year 2019 and the first down payment for the year 2020, without surcharge.

ADDITIONAL

Regional surtax to Irpef: payment

Payment, in a single solution or as the first installment, of the regional surtax to the Irpef resulting from the annual returns, due for the 2019 tax year, without any increase.

Municipal surtax to Irpef: first advance payment 2020 and balance 2019

Payment, in a single solution or as the first installment, of the municipal surtax to the Irpef resulting from the annual declarations, as the balance for the year 2019 and as the first advance for the year 2020, without any increase.

Surcharge for Ires for entities operating in the field of exploration and cultivation of liquid and gaseous hydrocarbons

Payment, in a single solution or as the first installment, of the surtax to IRES equal to 4% of the pre-tax profit resulting from the income statement if the same shows a tax incidence of less than 19%, due as the balance for the for the year 2019 and the first down payment for the year 2020, without any surcharge.

Ires subjects: payment of the Ethics Tax

Payment, in a single solution or as the first installment, of the 25% IRES surtax on the production and sale of pornographic or inciting violence material (the so-called ethics tax), as the balance for the year 2019 and the first down payment for the year 2020, without any increase.

Irpef subjects: payment of the Ethics Tax

Payment, in a single solution or as the first installment, of the additional income tax of 25% on the production and sale of pornographic material or incitement to violence (the so-called ethics tax), as the balance for the year 2019 and first down payment for the year 2020, without any surcharge.

Ires surtax for financial intermediaries and for the Bank of Italy

Payment, in a single solution or as the first installment, of the IRES surtax in the amount of 2,5% for financial intermediaries, as the balance for the year 2019 and the first advance for the year 2020, without any increase.