On May 2, 2023, the deadline for submitting the 2023 VAT return for the year 2022 expired. However, taxpayers who were unable to meet the deadline can still validly submit the late VAT return within 90 days from the deadline. This is subject to administrative sanctions for the delay, but taxpayers can still avail themselves of the “ravvedimento operoso” (voluntary disclosure) institute.
The deadline for submitting the late VAT return for 2022 is considered to be July 31, 2023. The 90-day period is calculated from the expiration of the regular deadline, which was May 2, 2023. If the 90-day period is calculated from April 30, 2023, the deadline for the late VAT return would be July 29, 2023. However, since July 29, 2023, falls on a Saturday, the deadline would still be July 31, 2023, considering the next working day.
Late submission of the VAT return incurs penalties for the omission of the declaration and potential penalties for late or insufficient payment of the tax.
If the VAT return for 2022 is submitted after July 31, 2023, it is considered omitted, and a penalty ranging from 120% to 240% of the amount of VAT due can be applied. An integrative VAT return can be filed to correct omissions or errors in the VAT return. The integrative VAT return for the year 2022 can be submitted by December 31, 2028, within the time limits for the expiration of the assessment powers. The integrative VAT return can also serve other purposes, such as obtaining compliance approval or modifying the choice regarding the use of VAT credit.
It also allows the exercise of the right to deduct VAT paid on a purchase invoice received in 2022 but not promptly recorded. The right to deduct can be exercised until the deadline for the VAT return for the year in which both requirements are met, or through an integrative return in favor until December 31, 2028.