On the tax assessment there is also the prescription for the Revenue Agency.
When we receive an assessment notice, we don’t panic. Let us remember that on the tax assessment there is also a prescription for the Revenue Agency. If we receive the deed after the deadline that the Tax has to notify us the deed is void because the Revenue Agency has forfeited its verification rights.
The Revenue Agency has a certain period of time within which to carry out the control for each of the tax obligations to which we are required. For example for the annual VAT return, or for the presentation of the tax return, or to check the expense invoices with the spesometro. Always keep in mind this list of our terms that the tax authorities must respect for the various obligations.
On the tax assessment there is also the prescription for the Revenue Agency
Tax assessment notices must be notified within the fifth year following the year of submission of the tax return if it was irregular. If you are exempt from submitting the return or the assessment notice has been considered void, you must be notified within the seventh following year. If you receive an assessment notice, immediately use our schedule to calculate any prescription that the Revenue Agency has incurred.
Let’s take an example. You will receive an assessment notice during 2020. If the assessment concerns the tax return of 2014, which is deemed irregular, the tax authorities had 5 years to notify you of an assessment notice. He had to notify this by the end of 2019. Today that notice of assessment is void.
If, on the other hand, in the assessment it says that your tax return has been deemed void, the notice is valid if it concerns the 2012 tax return.
How to defend yourself from the prescribed assessment notice
You have to be timely. The notice of null assessment must be challenged with an appeal to the Revenue Agency within 60 days from when you receive it. If the disputed sum is less than € 50,000.00, an attempt at tax mediation is mandatory.
The new tax mediation it was introduced in 2018. Practically today, when the taxpayer presents a tax appeal, an administrative phase automatically opens in direct contradiction with the Revenue Agency. The objective is that the Agency cancels the act recognizing it as flawed, without the delays and costs of a judicial procedure. It is also possible that this phase ends with a mediation between the positions of the taxpayer and the tax authorities.
The sum agreed between the taxpayer and the Revenue Agency may be paid by the taxpayer also with compensation of the credits towards the tax authorities not prescribed. They must be credits accrued towards the State by 31 December 2012 and must have as their source supplies, supplies or contracts.
The compensation therefore operates in favor of companies that have outstanding accounts with the tax authorities.
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