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Offsetting of taxes with the F24 form now needs the prior filing of the tax returns

With resolution no. 110 of December 31, 2019, the Tax Authority provided some clarifications in relation to the changes introduced by the Legislative Decree no. 124/2019 (the so-called "tax decree"), concerning the methods and procedures to be followed for the filing of F24 Forms containing tax credits to be offset. 

Article 3, paragraphs 1-2 of the Legislative Decree no. 124/2019 extends the obligation of prior filing of the tax return before offsetting any tax credit by means of the F24 Form, for amounts in excess of 5,000 Euro per year relating to income taxes (including additional and substitute taxes) and IRAP (regional production tax), whereas, previously, this obligation was provided only for the offset of VAT credits.
Therefore, tax credits may be offset:
  • only after the filing of the IRAP or Income Tax Return from which they rise;
  • from the tenth day following the filing of the relevant tax return.
The annual threshold of 5,000 Euro should be verified only by considering the offsets of claims that must necessarily be filed with the F24 Form (see Circulars no. 1/2010 and no. 29/2010).
According art. 3 paragraph 3 of DL 124/2019, the new provisions apply "to credits accrued from the tax period in progress as of December 31, 2019". Consequently, the new obligation does not apply credits accrued in relation to the 2018 tax period for income tax and related additional taxes, income tax substitute taxes and IRAP. 
The latter may be offset, without the obligation of prior submission of the relevant declaration, until the deadline for submission of the 2019 tax period declaration, within which any remaining credits from the previous tax period will have to be "regenerated". Otherwise, for VAT credits, the obligation also exists for tax year 2018.
The provisions on the conformity endorsement on the declaration from which the offset credit emerges remain unchanged.

 from the NEWSLETTER


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