February 2023 Tax, VAT, INPS and Withholding Tax Deadlines in Italy
Several important tax deadlines are approaching, including obligations related to income taxes, VAT, INPS contributions, and withholding tax requirements. Businesses and taxpayers should also pay close attention to deadlines concerning lease agreements and electronic invoicing.
Below is an overview of the main February 2023 tax deadlines in Italy.
Deadlines Due by February 15, 2023
VAT – Deferred Invoicing
Businesses that sell goods whose delivery or shipment is documented through a transport document or other suitable documentation identifying the parties involved in the transaction, as well as providers of services supported by appropriate documentation, must issue the related invoice by the 15th day of the following month.
The invoice must include details of the transactions carried out and be recorded in the relevant VAT register within the same deadline.
VAT – Summary Document for Invoices Under €300
For invoices issued during the month with an amount of less than €300, taxpayers may prepare a summary document.
The document must include:
- The invoice numbers to which it refers;
- The total taxable amount of the transactions;
- The VAT amount, broken down according to the applicable VAT rate.
Taxes, Withholding Taxes and VAT – Voluntary Correction (Amendment)
The deadline falls on the 30th working day for taxpayers wishing to regularize omitted or insufficient payments of taxes, VAT, or withholding taxes originally due on January 16.
In these cases, an administrative penalty reduced to 3%, plus accrued interest, will apply.
Deadlines Due by February 16, 2023
IRAP – Monthly Advance Payment for Public Administrations and Public Bodies
The deadline expires for the payment of the monthly IRAP advance payment due by public bodies, including local health authorities (AA.SS.LL.), as well as state bodies and public administrations.
The amount is calculated based on salaries and wages paid during January.
Public entities subject to the single state treasury system must use Form F24/EP to pay IRAP and withholding taxes, including additional taxes.
Withholding Agents – Payment of Withholding Taxes by Public Bodies
Public bodies listed in Tables A and B attached to Law 720/1984 must pay the withholding taxes due by the applicable deadline.
Entities subject to the single state treasury system are required to use Form F24/EP for the payment of IRAP and withholding taxes, including related surcharges.
Withholding Tax Agents – Payment of Withholding Taxes at Source
Tax withholding agents must pay the withholding taxes deducted during January on various types of income, including:
- Employment income and similar income;
- Self-employment income;
- Commissions paid to agents and sales representatives;
- Capital income and similar earnings.
Payments must be made using Form F24.
VAT-registered taxpayers are required to submit the form electronically. Taxpayers without a VAT number may submit the form through an authorized bank, tax collection agency, or post office.
Employment Income – Regional and Municipal Surtax Payments
Regional and municipal surtaxes on employment income and equivalent income become due when payroll adjustment operations are carried out.
Payment may be spread over a maximum of 11 installments. However, if the employment relationship ends, the surtax must be paid in a single installment.
VAT – Monthly Payment
February 16 is the final day for monthly VAT taxpayers to pay the VAT due for the previous month.
The amount payable is calculated as the difference between:
- VAT due on taxable sales transactions recorded or to be recorded; and
- VAT resulting from recorded purchase documents.
If the amount due exceeds €25.82, payment must be made using Form F24.
If the amount owed does not exceed this threshold, payment may be postponed and made together with the VAT payment due for February.
