Taxes, the operational summary on the Compensation carried out by the Foundation for Labor Consultants: times, methods and costs.
In view of the deadline for submitting tax returns on November 30, the Studies Foundation has made a “Operational summary of the institute of repentance” useful for outlining the scope of action, the different types envisaged by the law and the consequent sanctioning discipline. In the’in-depth study of November 18, 2021 are reported the conditions for the regularization of omitted or insufficient tax payments benefiting from the reduction of penalties according to the provisions contained in article 13 of Legislative Decree no. 472/1997.
What is repentance
The repentance was introduced by article 13 of Legislative Decree no. 472/1997 for the regularization of omitted or insufficient payments of taxes, benefiting from a reduction in the penalties to be added during the payment phase. This contribution is intended to offer an operational summary of the institute, paying particular attention to the scope of use of the same, the different types provided for by the law and the discipline of the resulting sanction reductions. We also focus on the calculation of legal interest, as well as on the methods of payment of the tax due, penalties and interest.
With the institution of “repentance” pursuant to art. 13 of Legislative Decree no. 472 of 1997, it is possible to regularize omitted or insufficient payments of the tax due, benefiting from the reduction of penalties. The sanction ordinarily envisaged for omitted or insufficient payment, pursuant to art. 13, c. 1, Legislative Decree no. 471/1997, is equal to 30% of the sums not paid or paid late; this sanction is, however, reduced in the self-settlement, according to the timeliness with which the taxpayer proceeds to its regularization.
In light of the various interventions of the legislator1, with effect from 1 January 2016, it is possible to access the amendment, even in the case in which:
• the violation had already been ascertained and notified to the taxpayer;
• access, inspections, verifications and other assessment activities formally communicated to the taxpayer had begun.
These foreclosures no longer operate for taxes administered by the Revenue Agency and repentance is inhibited only by the notification of the settlement and assessment deeds (including communications from automated and formal control of declarations). In any case, payment and regularization do not prevent the initiation or continuation of access, inspections, verifications or other administrative control and assessment activities. Errors, omissions and deficient payments can be regularized by spontaneously making the payment:
• the tax due;
• interest (see below), calculated at the legal annual rate from the day on which the payment should have been made to the day on which it is actually made;
• the reduced sanction.
The further penalty reduction
The legislative decree n. 158/2015, containing the reform of the tax sanctioning system, reduced the ordinary sanction by half, in the event of payments made with a delay of no more than 90 days from the deadline. In such cases, therefore, the sanction passes from 30% to 15% 2 and the possibility of applying the amendment pursuant to art. 13, paragraph 1, Legislative Decree no. 472/97 (see above).
By way of example, if the regularization takes place within 30 days from the original due date of the tax payment, the reduced sanction to be paid at the time of amendment will be equal to 1.5% of the tax due (1/10 of the sanction ordinary reduced by half).
A further reduction of the fine is envisaged for payments made with a delay of no more than 15 days. In such cases, the 15% penalty is further reduced to 1/15 for each day of delay (1%). Therefore, by way of example, upon amendment, the penalty to be paid will be 0.1% for each day of delay (1/10 of 1 percent).
Method of payment
To proceed with the payments connected to the institute of the amendment it is necessary to use:
– form F24, for income taxes, the related substitute taxes, VAT, IRAP and the tax on entertainment;
– form F23, for the registration tax and other indirect taxes;
– F24 Elide for taxes, penalties and interest, connected with the registration of lease and rental contracts for real estate;
– F24 Elide for the mortgage tax, mortgage taxes, stamp duty and penalties, due in relation to the updating of real estate registers and the issue of certificates and copies.
Interest must be indicated in the F24 form using the appropriate tax codes; on the other hand, those on withholding taxes must be paid by the withholding agents, adding them to the tax.
As is known, also for penalties, tax codes are provided to be reported on the payment form which can be found directly on the website of the Revenue Agency3.
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