Newsletter - Fiscal Decree linked to Budget Law 2019

Newsletter - Fiscal Decree linked to Budget Law 2019

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On 20 October 2018, the Italian Council of Ministers has approved the Law Decree (the "Decree") introducing “Tax provisions” (Part I) and “Emergency financial provisions” (Part II), published in the Official Gazette No. 247 of 23 October 2018.

The first Chapter of Part I - the core of the s.c. “Tax Amnesty” – provides for the procedure to settle the tax debts, which are pending in various stages of the relationship between the Tax Authorities and the taxpayer, i.e., upon filing of the tax return, inspection, assessment, pre-litigation, litigation and collection.

The settlement by means of the above-mentioned provisions allows the taxpayers to reduce their liabilities as penalties, interest and, in specific cases, taxes.

 

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