Friday, October 18, 2024

Paying tax bills in installments: Debts can be divided into 120 installments, discover the new

Date:

The legislative decree has been approved, which includes important innovations to postpone the payment of tax bills. What are the changes?

The Council of Ministers voted on the new legislative decree to reform the tax collection system. The aim of this measure, conceived by Deputy Economy Minister Maurizio Liu, is to make the mechanism more efficient.

Tax reform approved (cityzen.it)

Currently, in fact, The state has to collect a huge amount of debt from taxpayers.which, however, are still prohibited mainly due to the economic conditions of the debtors concerned. This is a problem of great importance, given that the credits that should enter the state treasury amount to about 100 billion euros.

big fine The reform introduced two important innovations: automatic exemption and the possibility of paying tax bills in installments of up to 120 installments.What are the requirements to benefit from the measures?

Automatic discharge and installment of tax invoices: advantages of state reform

There will be two major changes to the collection of tax bills, to allow all taxpayers to pay their debts to the tax authorities. First, Debtors will have the option to request payment of tax bills in installments for up to 120 months, i.e. 10 years..

What does the tax reform include? (cityzen.it)

Currently the maximum number of installments that can be obtained is 72 installments, but the share will gradually increase as follows:

  • 84 installments, between 2025 and 2026;
  • 96 installments, between 2027 and 2028;
  • 108 installments starting from 2029;
  • 120 installments starting from 2031.

However, not everyone will be able to benefit from this benefit. This measure is aimed exclusively at those in economic difficulty, duly proven, and who have debts to the tax authorities amounting to an amount exceeding 120,000 euros.

See also  Elon Musk announces his resignation as CEO of Twitter

The second innovation is the introduction of automatic discharge.In practice, after 5 years from the date of filing the tax bill, the Revenue Agency will be obligated to return it to the IRS. If the debtor is found to be unable to pay the debt, the credit will be automatically “discharged.”

These two tools introduced by the recent legislative decree to reform the tax system were necessary due to the high volume of bad debts that the State boasts of towards taxpayers. These are the credits that concern individuals or bankrupt or untraceable persons, who cannot pay their tax bills or very small credits, which the Revenue Agency could request, if it were not for work that would cost a lot.

For these reasons, the state is trying to offer more favorable terms to debtors and allow everyone to be able to pay the amounts due.

Popular

More like this

It will not be free for these cars in 2025

The automobile sector is still suffering and that is...

Why were health sector workers angry at the budget law?

One of the most discussed topics in the budget...