Anticipation of the deadline for submission of the Corporate Income Tax Returns

Prepared by Tax Reporting & Strategy Team

The Legislative Decree no. 13/2024, Art.38, set forth the anticipation of statutory deadline for the filing of the corporate income tax returns (i.e. IRES and IRAP) starting from the FY ending on December 31^st, 2023.

In such regard:

• for the FY ending on December 31^st, 2023, the statutory deadline for filing the corporate income tax returns has been anticipated to the 15^th day of the tenth month following the end of the FY. In case of FY coinciding with the calendar year, the deadline will be October15^th, 2024;
• starting with the FY ending on December 31^st, 2024, the said statutory deadline has been anticipated to the last day of the ninth month following the end of FY. Hence, for companies with their FY end coinciding with calendar year, the regular statutory deadline for filing tax returns will be on the following September 30^th.

Previously (i.e. until the FY ended before December 31^st, 2023), the filing statutory deadline used to be the end of the eleventh month following the end of the FY.

The above anticipation will entail the following effects:

• the necessity to reschedule the activities related to the preparation and finalization of the tax returns in order to meet the new deadline;
• the necessity to timely prepare and finalize TP Documentation, with the aim of legitimately reporting its possession within the tax return.

The above without prejudice to the option for taxpayers to file the income tax returns (i.e. for IRES and IRAP) later then the ordinary statutory deadline: in this regard, the filing must be completed within the extended deadline of 90 days from the said statutory deadline, concurrently including the payment of EUR 25 per return.

Hence, for companies with FY coinciding with calendar year, the mentioned extended deadline for filing the income tax returns for FY2023 would be on January 13^th, 2025.

In such regard, while recalling that the statute of limitations for notification of tax assessment deeds related to income tax returns falls on the last day of the fifth calendar year following the one in which the return has been filed, should the Company opt for the extended deadline for the FY 2023, it would be advisable to finalize such filing by no later than December 31^st, 2024, so avoiding any extension of the statute of limitations.

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For any assessment concerning the possible factual impacts of the provisions commented above, please contacts your advisors at PwC TLS.

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