Unpaid taxes and undeclared income: the tax truce reopens

The Milleproroghe reopens the fiscal truce. The first two instalments already due and the third instalment (currently scheduled for 28 February) of the "rottamazione quater" of tax bills can be paid by 15 March 2024. While those who have 'forgotten' to declare some income will still have the possibility of accessing the maxi-discount on penalties with the special amnesty, which extends until the 2023 declarations (tax year 2022), and will be accessible until 31 March 2024, the due date of the first or single instalment. This is provided for by two amendments by the rapporteurs to the Milleproroghe decree law, reformulated by the Government, which will be filed in the Chamber's Constitutional Affairs and Budget committees on Friday 9 February to be put to the vote on Tuesday 13 February.

The announced reopening of the 'rottamazione quater', on which Economy Deputy Minister Maurizio Leo had announced that he was working on the sidelines of Telefisco, extends until 15 March 2024 (fifteen days longer than the term of 28 February initially hypothesised). In particular, those who missed the first two instalments due respectively on 31 October and 30 November 2023 - which had already been subject to a mini-deferment to 18 December 2023 - will be able to get back on the amnesty train, which allows them to settle the bill for the old files (the loads must have been entrusted to the collection agent by 30 June 2022) without paying penalties, interest, and collection fees. But that is not all, because the rapporteurs' amendment also shifts the deadline for the third instalment: here, too, the time horizon is shifted to 15 March 2024.

The postponement of the instalments of the 'rottamazione quater' will also affect the first two instalments for the municipalities of Emilia Romagna, Tuscany and Umbria affected by the floods in May 2023. In this case, the first two instalments due on 31 January 2024 and 28 February 2024 will slip - again according to the rapporteurs' amendment - to 15 March 2024.

But the 'tail' of the tax truce launched with the 2023 manoeuvre by the Meloni government will not stop at the 'rottamazione quater'. Another amendment by the rapporteurs to the Milleproroghe reopens the game of the special amnesty, i.e. the amnesty that allows the addition of some omitted income (but on condition that the declaration has been validly submitted) benefiting from a discount of ⅛ on penalties, while the higher taxes must be paid in full. In fact, the chance is extended until the 2022 tax year (i.e. the one that had to be reported with the 2023 tax returns). In order to get on the train, it will be necessary to pay the due amount by 31 March 2024 and correct any omissions by the same deadline, in practice by submitting the corrected return. It is also possible to pay in instalments, but these will all be concentrated in 2024 according to this schedule: 31 March, 30 June, 30 September and 20 December. From the second instalment onwards, interest will also be charged.