Biennial preventive agreement, revised deadlines not only for VAT holders but also for the Revenue Agency. The software for acquiring the additional data necessary to calculate income and taxes will be made available by mid-June, instead of the initial deadline of April. The news after the final green light for the legislative decree during the Council of Ministers on 25 January
Deadlines revisited for the agreed biennial budget for the two-year period 2024-2025.
In the text of the legislative decree on assessment and agreement, approved during the Council of Ministers of 25 January 2024, the startup times of the new compliance tool between VAT numbers and tax authorities.
There will be three months to evaluate the advantages and disadvantages of the biennial preventive agreement, for which the first adhesion must take place by October 15, 2024.
Longer deadlines also for the Revenue Agency, called upon to develop an ad hoc software for the acquisition of further data useful for calculating the agreed income and related taxes. The deadline for publishing computer programs passes to 15 June 2024.
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Longer biannual composition with creditors deadlines also for the Revenue Agency
The definitive text of decree regarding assessment and biennial preventive agreement welcomes requests from professionals and businesses and, in particular, reviews them instrument deadlines for the first years of application.
Adherence to the preventive agreement for the two-year period 2024-2025 can take place by October 15thsame date by which VAT holders must submit the tax declaration.
There is therefore no risk of a race against time, and of a summary evaluation, for theadhesion to the pact for the tax freeze for two years.
A review of the deadlines across the board and which also involves the Revenue Agency.
In fact, the times within which it will be necessary to prepare the document also change software necessary for the acquisition of further datacompared to those already available to the Tax Office, for the preparation of the proposed agreement.
The outline of the legislative decree prepared last November by the Government established the need for the Revenue Agency to make new IT programs available by March 15th of each yeardate postponed to the first days of April for 2024.
The definitive text approved on 25 January sets the deadline for the tax authorities to be fully operational in April, while for the current year the software will be launched by June 15th.
Long deadlines for the two-year composition with creditors: membership by 15 October 2024 with impact on the second tax advance
It will therefore start from the second half of the year operational machine which will determine the success or otherwise of the biennial preventive agreement.
In the text of the legislative decree an estimate of the effects on the expected additional revenue front is missing and it will therefore be necessary to wait for the deadline for payment of the second advance payment of income taxes.
On a practical front, the new deadlines of the biennial preventive agreement therefore determine that the balance and the first advance payment of income taxespostponed from June 30th to July 31, 2024will be paid according to the ordinary rules.
It will only be in November and in particular with the payment of second deposit that the taxes due will be paid on the basis of agreed income by those who have accepted the tax proposal.
You will have until October 15th to accept the two-year plan proposed by the Revenue Agency which, first of all, will have to define through a specific provision the additional set of data that will be necessary to transmit to the Tax Office.
Only at the end of the year will it therefore be clear greater revenue deriving from the start of the biennial composition with creditors for VAT numbers, a measure for which, as a precaution, no revenue estimates are therefore carried out by the MEF.
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