The deadline for submitting the tax return expires on the last day of the eleventh month following the end of the tax period: for example, a taxpayer with a tax period coinciding with the calendar year must submit the return by November 30th of the year following the reference tax period.
When will I have to pay the taxes calculated into the Tax Returns?
The balance resulting from the Declaration and any first down payment must be paid by 30th June of the year in which the declaration is submitted, or within the following 30 days by paying an increase of 0.40%. The deadline for any second or single advance payment is November 30th.
The deposit is due if the tax declared in that year (referring, therefore, to the previous year) is greater than 51.65 euros. The deposit is equal to 100% of the tax declared in the year and must be paid in one or two instalments, depending on the amount:
- single payment, by 30th November, if the deposit is less than 257.52 euros;
- two instalments, if the down payment is equal to or greater than 257.52 euros; the first equal to 40% by 30 June (together with the balance), the second - the remaining 60% - by 30th November.
The balance and the first down payment can be paid in monthly instalments (the November deposit must be paid in a single instalment). In any case, the instalment payment must be completed by November.
What happens in case of late declaration?
To ensure that your tax return is completed by the first deadline of June 30th, documents related to your real estate and tax situation must be uploaded to the platform (Real Estate Situation tab and Tax Return tab) no later than April 30th each year.
After this date, Xolo cannot be held responsible for any delays and penalties related to your Tax Return.
What are the penalties for filing a late income tax return?
The penalty provided for late declaration, within 90 days of the due date, has a fixed amount of 250€ and can in any case be reduced to 1/10, i.e. 25€, by resorting to the active repentance. Therefore, in the absence of taxes due, the regularization involves the payment of the penalty reduced to 25€.
In cases where the return shows a tax liability, the penalty and interest for late payment should be added to this amount. In relation to these amounts, too, it is possible to comply with the active repentance by making the payment spontaneously:
- of the tax due
- of the interest
- of the penalty in a reduced amount
Below you will find summary outline related to the voluntary repentance and an explanatory table with the progressive percentages of penalties related to late payments:
Summary outline on active repentance:
Violation | Regularization deadline | Reduction | Payment | Declaration |
Mancato pagamento del tributo | By 30 days | 1/10 | ❌ | |
Omissions or errors | By 90 days | 1/9 | ❌ | ❌ |
Omissions or errors | By the deadline for filing the tax return for the year of the violation or within one year of the error | 1/8 | ❌ | ❌ |
Omissions or errors | By the deadline for filing the tax return for the year following the violation or within 2 years of the error | 1/7 | ❌ | ❌ |
Omissions or errors | Beyond the deadline for filing the return for the year following the violation or beyond 2 years from the error | 1/6 | ❌ | ❌ |
Omissions or errors | After finding the error in the PVC | 1/5 | ❌ | ❌ |
Omission of declaration | Over 90 days | 1/10 | ❌ |
Penalties in payments area
Late payment | Sanction |
Within 14 days | % for each day of delay |
15th through 30th day | 15% |
Beyond the 90th day | 30% |