tax campaign italy 2017: deadlines and Fines

Tax deadlines in Italy in 2017: when are due and what you risk in case you miss them

Are you resident in Italy and have any income or assets abroad? If so, you need to file your taxes! Don't miss the last deadline and avoid any penalty.

October 31st 2017 was the tax return deadline for Financial Year 2016. Do not worry if you missed it, you can file your taxes before January 29th 2018.

Who is required to file taxes?
Taxes need to be filed by residents who:

• Produced income in Italy
• Produced income abroad
• Hold assets abroad (i.e. bank accounts, shares, bonds, pension funds, houses, land etc.)

​Non residents have to file taxes regarding any Italian income.

Accounting Bolla, with his professional English speaking team, already helped hundreds of individuals to file their returns on time.

Once the deadline has passed, there is no way of submitting a late return, exposing the taxpayer to the risks of tax investigation for the next 8 years.

What happens if you don't file on time?
The taxpayer has to pay the following penalties, on top of any tax liability:

• A general fine from € 258.00 to € 1,000.00 for not filing on time.
• 3% -15% of the activity consistency at the end of the year if held in a white-listed country
• 6% -30% of the activity consistency at the end of the year if held in a black-listed country
• 120%-240% of any tax due

Do you still think you should not file your tax return?

Stop by our Parma office or fill the form below to get your free consultation.

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