APPLICATION PROFILES AND TIMING
Law No. 197 of 29 December 2022, the Italian Budget Law 2023, among the simplifying measures aimed at settling taxpayers’ positions, has introduced the so-called “special voluntary settlement†(article 1, paragraphs 174-178), a provision that taxpayers may use to rectify tax violation relating to regularly submitted – and not yet challenged – tax returns, benefiting from a 1/18 reduction in penalties.
The provision allows the taxpayer to regularise tax violation of correctly submitted tax returns (failure to file a tax return does not, therefore, fall within the scope of the institute), with the exception of those of formal nature or falling within the simplified definition of notifications of irregularities and due as a result of automated control of tax returns, referring to the fiscal year ending 31 December 2021 and previous fiscal years, by paying by 31 March 2023:…
