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COVID-19: Italian Firms Allowed More Time To Pay Deferred Taxes

by Ulrika Lomas, Tax-News.com, Brussels

18 August 2020


The Italian Government will allow tax payments that were deferred during the COVID-19 lockdown to be paid in instalments over a two-year period.

The Government will permit tax payments that were suspended in March, April, and May to be paid in instalments. Half of the total owed should be paid in either a lump-sum by September 16, 2020, or in up to four monthly installments, with the first installment due by September 16, 2020. The remaining 50 percent of the tax owed can be paid in up to 24 monthly installments. Penalties and interest will not be charged in such cases.

TAGS: compliance | tax | value added tax (VAT) | tax compliance | interest | withholding tax | social security | Italy | penalties

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