Yesterday 16 October the Government, in Council of Ministers no. 54, approved, among other measures, a legislative decree with urgent measures on economic and fiscal matters, in favor of local authorities, to protect employment and for needs that cannot be deferred.
Among the rules, the postponement of the second IRPEF advance payment for VAT is confirmed for 2023.
We remind you that the measure had been anticipated in recent days by the declarations ofthe Honorable Gusmeroli who had stated: “the payment in installments for November will already be applied from this November 2023 for a fairly large group of taxpayers”.
In detail, the President of the Productive Activities Commission of the Chamber Alberto Gusmeroli speaking at the VII Congress of the National Institute of Tax Lawyers he added that “…we are identifying a turnover ceiling, probably close to 500 thousand euros to fall within the abolition of the November advance paid in installments and paid from January to June 2024. All the rest of the audience enters in November 2024″.
IRPEF advance payment November VAT number: payments by 16 January 2024
In detail, regarding the postponement of the payment of the second advance installment of direct taxes, it is expected, only for 2023 for natural persons with a VAT number who in the previous tax period declare revenues or compensation of an amount not exceeding 170 thousand euros, the payment of the second advance payment of income taxes, with the exclusion of social security contributions, by January 16th of the year following the reference year, without interest.
The payment can be deferred up to 5 monthly instalments, from January to May, expiring on the 16th of each month, with the application, in this case, of interest, starting from the second instalment.
On other news from 2024 fiscal maneuver launched by the Government read also:
Second down payment / or single IRPEF installment: the current rules
We remind you that taxpayers who submit their tax return must pay taxes, using Form F24, within certain deadlines, which vary depending on the type of taxpayer:
natural person, partnership, joint-stock company or similar entity
In general, income tax payments (Irpef or Ires) take place in 2 phases:
the balance relating to the year covered by the declarationand the deposit for the following year, which must be paid in one or two installments, depending on the amount.
Read also: Income tax return for individuals 2023: tax installments and dates to remember
Payments by natural persons
Unless extendedthe balance resulting from the PF Income form and any first advance installment must be paid by 30 June of the year in which the return is submitted, or within the next 30 days by paying an increase of 0.40%.
The deadline for any second or single down payment installment is November 30th.
The Irpef advance is due if the tax declared in that year (referring, therefore, to the previous year), net of deductions, tax credits, withholdings and surpluses, is higher than 51.65 euros.
The advance payment is equal to 100% of the tax declared in the year and must be paid in one or two installments, depending on the amount:
single payment, by November 30th, if the deposit is less than 257.52 eurostwo installments, if the down payment is equal to or greater than 257.52 euros; the first equal to 40% by June 30th (together with the balance), the second, ithe remaining 60%, by November 30th.
The balance and the first down payment can be paid in monthly installments (the November deposit must be paid in a single payment).
In any case, the installment payment must be completed within the month of November.
According to previews, the provisions of the tax delegation should introduce, as early as next November, the possibility of paying the November 2023 advance in installments for a group of VAT numbers that comply with income requirements.
Second advance payment in installments: what the Tax Reform Delegation Law provides
We remind you that with the amendment approved in the Finance Committee of the House it should be foreseen the possibility of spreading the payment of the second IRPEF advance due by VAT holders over several months.
This option, dtimely objective of a tax reform, aimed at ensuring a distribution of the tax burden over several months of the year, now finds space in the enabling law.
However, the text of the amendment aimed at the installment of the second IRPEF advance would not change the methods of determination and calculation (historical and forecast).
The House Finance Committee approved various amendments in the final session of Last June 29th.
Among the notable innovations is the one concerning the possible installment of the second IRPEF advance.
Payment in installments also for the second advance payment of income taxes due in November, long speculated, is aimed at ensuring a distribution of the tax burden over the year.
The new forecast for advance payments should include the November installment which can be paid in installments until June and the distribution over several months should not burden public finances.
2023-10-17 04:39:33
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