- Sanctions for late VAT advance payments have been resized
- For missed or delayed payments related to the 2024 compliance, a 25% penalty on the due amount is applied
- The administrative penalty for late or non-payment of the 2024 VAT advance, due today, December 27, is set at 25% of the unpaid tax
- This penalty was redefined by Legislative Decree 87/2024, which amended the rules on missed or delayed tax payments under Article 13, paragraph 1 of Legislative Decree 471/97
- The new regime applies to violations committed from September 1, 2024, as stated in Article 5 of Legislative Decree 87/2024, fully including the VAT advance whose violation is considered complete on the payment due date, December 27, 2024
- Before the amendments made by Legislative Decree 87/2024, the penalty for late or non-payment of the VAT advance was different
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Italy"
- VAT Exemption for High Seas Navigation: Conditions for Public Entity Ship Purchases
- Unregistered Purchase Invoices: Is the Right to VAT Deduction Still Valid?
- VAT Treatment for Sale of Oceanographic Vessel to Research Entity Under Italian Law
- Constitutional Court Ruling Alters Customs Confiscation Rules for Unpaid Import VAT
- Legal Requirements for Issuing Credit Notes: Clarity and Proof of Original Invoice Connection
