📅 Introduction to the New Voluntary Correction (Ravvedimento Operoso)
Starting from September 1, 2024, the voluntary correction procedure will undergo a significant transformation.
The decree on the reform of tax penalties, definitively approved by the Council of Ministers on May 24th, will introduce changes that will reduce the cost of voluntary correction, making it more advantageous for taxpayers.
Let's analyze in detail what will change and the new features introduced.
📜 Voluntary Correction: What's Changing?
The voluntary correction, regulated by Article 13 of Legislative Decree No. 472 of December 18, 1997, allows taxpayers to regularize omissions or insufficiencies in tax payments, benefiting from a reduction in penalties.
This institution was created to enable taxpayers to spontaneously correct errors or omissions related to income declarations and tax payments.
With the decree on the reform of tax penalties of May 24, 2024, the Revenue Agency has reduced penalties and the cost of voluntary correction, encouraging greater voluntary compliance.
⚖️ Introduction of the Legal Cumulative Penalty
One of the main innovations of the decree concerns the application of the legal cumulative penalty for violations.
This tool, regulated by Article 12, paragraph 8 of Legislative Decree No. 472/1997, will allow the application of a single increased penalty for multiple violations.
Previously applicable only during assessments by the Public Administration or the judge, this mechanism will now be available to taxpayers during spontaneous regularization.
📈 Benefits for Taxpayers
The legal cumulative penalty extended to repeated violations of the same provision (except those related to payment obligations and undue compensations) represents a significant advantage.
For example, in the case of repeated violations of the invoicing obligation, the taxpayer can correct irregularities by paying only one penalty, that provided for the most serious violation.
This approach will significantly reduce costs for taxpayers, encouraging the use of voluntary correction, especially in the VAT sector.
📊 Practical Implications and Future Predictions
The introduction of the legal cumulative penalty and the reduction of penalties will make voluntary correction an even more effective and convenient tool for taxpayers.
This reform aims to promote greater tax compliance, improving collaboration between taxpayers and the Revenue Agency.
It is likely that we will see an increase in the use of this institution, benefiting the entire tax system.
📌 Conclusions
In summary, the reform of the voluntary correction procedure from September 1, 2024, marks a significant step forward in managing tax penalties.
With the application of the legal cumulative penalty, taxpayers will have a greater incentive to spontaneously correct their irregularities, contributing to a more efficient and collaborative tax system.
🆕 What does the voluntary correction reform effective from September 1, 2024, consist of?
The voluntary correction reform, introduced by the decree on the reform of tax penalties, includes two important innovations from September 1, 2024: the reduction of penalties and the introduction of the legal cumulative penalty.
These changes will make voluntary correction an even more advantageous tool for taxpayers who want to spontaneously regularize their tax irregularities.
💡 What is meant by the legal cumulative penalty and how does it work in the new voluntary correction? ⚖️
The legal cumulative penalty, introduced by the voluntary correction reform, will allow for the application of a single increased penalty for multiple violations.
Previously applicable only during assessments, this mechanism will now be available to taxpayers during spontaneous regularization.
In practice, in the case of repeated violations, a single penalty will be paid, that provided for the most serious violation.
📋 What are the expected benefits from the voluntary correction reform? 📈
An increase in the use of voluntary correction is expected thanks to the changes effective from September 1, 2024.
The reduction of penalties and the extension of the legal cumulative penalty will make this institution even more convenient for taxpayers, encouraging the spontaneous regularization of tax irregularities.
This should bring benefits to the entire tax system, promoting greater compliance and collaboration between taxpayers and the Revenue Agency.