The Ministry of Economy and Finance has approved the increase coefficients to be used foradjustment of inventories of warehouse.
These factors allow us to determine theVAT and theIRPEF, IRES and IRAP substitute tax owed by those who fall under the amnesty.
By July 1st payment is due next first payment.
The details for calculating the tax in MEF decree published on 24 June 2024.
Warehouse scrapping: the coefficients for calculating the tax
The Ministry of Economy and Finance, with the decree of 24 June 2024,approved i increase coefficients for theadjustment of inventories of warehouse.
These values are used to determine theVAT and the substitute taxIRPEF, IRES and IRAP due by the subjects who fall within the scrapping.
By next July 1stone day late compared to the ordinary deadline of June 30th which this year falls on a Sunday, the payment of the first payment.
To determine the coefficients, the data declarations relevant for the purposes of theapplication of ISAssynthetic indices of fiscal reliability, relating to tax period 2022.
The size of the increase coefficients is indicated in the attachments 1 to 3 of the decree:
- L’attachment 1 concerns the taxpayers for whom they were ISAs approved and who have declared revenues of an amount not exceeding 5,164,569 euroseven if one of the causes for exclusion from their application has occurred for the same tax period;
- taxpayers who have declared income of an amount greater than 5,164,569 euros instead, they use the coefficients referred to inattachment 2.;
- finally, theattachment 3 concerns the subjects for whom were not approved ISAs and who have declared revenues not exceeding 5,164,569 euros,
In the latter case, given the low number of taxpayers involved in these activities, a single coefficient of an increase equal to 1.45.
- Ministry of Economy and Finance – Decree of 24 June 2024
- Approval of the increase coefficients to be used for the adjustment of inventories.
Warehouse scrapping: payment to adjust inventories
Those carrying out business activities who do not adopt international accounting standards in drawing up the financial statements can request theadjustment of inventories at the headquarters of tax declaration.
This is established by theart. 1, paragraph 78, of the 2024 Budget Lawrelating to the current tax period to 30 September 2023.
The operation can be carried out by:
- L’elimination of initial existences of quantities or values higher than the actual ones;
- L’registration of previously omitted values.
In the first case, it is necessary to proceed with the payment of theVAT and of asubstitutive tax of IRPEF, IRES and IRAP.
In the case of inscription of valueshowever, the taxpayer is required only to the payment of VAT.
The payment of the amount due is made via F24 modelin two installments of the same amount:
- the first, within the deadline for payment a balance of income taxes relating to the 2023 tax period;
- the second, within the payment deadline of the second or single instalment of the advance payment for the 2023 tax period.
THE tax codes to include in F24 models were provided by the specific resolution of the Revenue Agency.
