Each taxpayer each year has the obligation to fulfill various tax obligations as required by current tax legislation. If appropriate documentation is not sent within the deadlines, it is possible to make use of late declarations with the payment of a fine. If this is not done even late, very heavy fines are triggered by the Revenue Agency for those who do not present this important tax document within the deadline. We are talking specifically about the tax return and below we deepen the sanctioning aspects.
The obligation to send tax documentation
The presentation of the tax return concerns an important tax obligation according to which each year the taxes that everyone must pay are established. Doing except for some cases, sending is mandatory. There is talk of failure to send if the taxpayer does not transmit the data after 90 days from the final deadline date.ex art. 2, paragraph 7 of Presidential Decree no. 322/1998. Whoever has to send the PF Income Form or the 730 Form or the VAT Return is obliged to know the respective deadlines for sending.
Heavy fines are triggered by the Revenue Agency for those who do not present this important tax document within the deadline
The late submission of the tax return can take place through industrious repentance. This procedure also establishes penalties which are calculated in proportion to the tax due. Generally, the amount of the sanction corresponds to 30% of the tax.
On the other hand, the failure to send data is different, which leads to the imposition of much heavier penalties. Let’s start with the least expensive cases. If the taxpayer fails to submit the VAT return and there are no taxes to be paid, then the penalty ranges from a minimum of 250 euros up to 2,000 euros. A similar situation could occur with the failure to send the tax return and IRAP tax return. Here the fine ranges from a minimum of 250 euros up to 1,000 euros. Much heavier are the consequences of those who fail to send the tax return, VAT and IRAP with taxes due.
The sanction is calculated as a percentage of the taxes due and the increase ranges from a minimum of 120% up to 240% of the taxes due. This is what art. 5, paragraph 3, of Legislative Decree no. 471/1997. For example, let’s assume that the tax payable by the taxpayer is 10,000 euros. An increase of 120% would raise it to as much as 22,000 euros. If, on the other hand, the maximum penalty were applied, an amount of 10,000 euros would become 34,000 euros. As you can see, very heavy fines are triggered by the Revenue Agency for those who do not present this important tax document within the deadline. For this reason it is always useful to keep in mind the fiscal calendar of each one.
Deepening
How to pay tax penalties to the Revenue Agency thanks to this system
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