(Finance) – A series of changes are arriving for tax returns. The Revenue Agency, with a circular (8/E), made a summary of the new features introduced tax compliance decree (Legislative Decree no. 1/2024), which implements some guiding principles of the tax reform (Law no. 111/2023) and which have resulted in a series of simplifications at the level of 730 and even in one slimming of declarations VAT and Irap.
The examination of the new rationalization and simplification measures regarding tax returns is divided into four distinct paragraphsdedicated respectively: to simplifications in favor of natural persons who do not have a VAT number, to those for VAT holdersfor the tax withholding agents and in the matter of review of terms for submitting declarations.
The pre-populated 730 becomes simplified
The presentation of the pre-compiled 730 form was simplified and will be usable by employees and pensioners already starting from the current 2024 declaration campaign.
This is a new opportunity for employees and pensioners, also recipients of similar incomes, to whom the Revenue Agency will make available, in an analytical way, the information in their possession, which may be confirmed or modified. This information, in particular, will be available in aspecific section of the pre-compiled declaration web application, accessible via the reserved area of the Revenue Agency website.
Interested taxpayers, using a guided and simplified routewill be able to confirm or modify the information held by the Revenue which, once defined, will be reported automatically in the corresponding fields of the tax return form 730, facilitating the completion of the pre-compiled declaration.
The categories admitted to 730 have been extended
The possibility of submitting the simplified declaration will be progressively extended to all taxpayers who do not have a VAT number. By way of example, as a result of the extension of the subjective scope, the simplified declaration form may also be presented, once fully operational, by subjectswho do not have a VAT number, who do not earn income from employment or similar, but exclusively capital income.
Also extended to self-employed workers and entrepreneursalthough in an experimental phase, the pre-compiled tax return. A provision from the Director of the Revenue Agency will establish the gradual inclusion of new types of income among those that can be declared using the simplified 730 form.
Other news
It will be possible already this year report capital income from foreign sources subject to substitute taxation. Again starting from the current year, a further innovation also allows subjects who present the 730 declaration form to now be able request any tax refund directly from the Agency or make the payment of the amount due, even in the presence of a withholding agent required to make the adjustment.
Simplifications also for VAT numbers
Among the new features are: Streamlined income, VAT and IRAP declaration models thanks to the progressive elimination of irrelevant information for the purposes of tax settlement or which can be acquired by the Revenue Agency from its own databases, or, in the ownership of other administrations.
The reduction of information it will particularly affect tax credits deriving from benefits for economic operators. In practice, it is progressively the obligation was eliminated to indicate tax credits in the declaration a “horizontal compensation” aimed at paying off debts. For those for whom the obligation remains of indication in the annual declarations, it is established, however, that failure to report the information relating to them in the declaration forms does not lead to forfeiture from the benefit, provided that the tax credits are due. This provision does not apply to tax credits classified as state aid or de minimis aid.
The new calendar
The ordinary terms have also been modified for the submission of declarations regarding income taxes (income form) and IRAP, including the declaration of withholding agents (form 770), for the years 2024 and followingwithout prejudice to the deadlines relating to the submission of form 730. Inside the circular an explanatory table illustrates the new deadlines for submitting declarations.