Ires 2024: news, calculation, who pays and tax codes

Have the tax decrees changed the IRES for 2024? How is the tax base of the proportional tax calculated? Ires is the corporate income tax, the reference legislation is contained in Legislative Decree 344 of 2003 and came into force on 1 January 2004 to replace Irpeg (tax on the income of legal entities).
It involves a calculation of the tax base carried out by applying specific rules which we will see shortly.
The IRES regulation has undergone changes over time, the most important being the reduction of the rate which occurred with the 2016 Stability Law from 27.50% to 24%.
The same rate is also applied in 2024 on income produced in 2023.
An additional 3.5% is applied to credit and financial institutions and the Bank of Italy.
Ires 2024: calculation, who pays and tax code What is Ires 2024 Ires taxable subjects Calculation of the tax base Ires 2024 Who pays Ires in 2024? Taxable subjects Exempted subjects Ires 2024 When is Ires 2024 paid? Declaration to be submitted in advance How to pay and tax codes What is Ires 2024 Ires, as anticipated, is the corporate income tax, it is not applied to partnerships, but only to joint-stock companies.
We briefly remind you that joint-stock companies are: SPA (joint-stock company), SAPA (limited partnership), SRL (limited liability company), SRLS (simplified limited liability company).
Unlike the Irpef which is progressive, it is a proportional tax with a rate set by the 2016 Stability Law, and therefore starting from 2017, at 24%.
The IRES regulation was included in Title II of the Consolidated Income Tax Act, Presidential Decree 917 of 1986.
The basis for IRES, based on Article 72 of the TUIR, is the possession of income in money or in kind falling within the categories indicated in article 6 of the same Consolidated Law, i.e.: land income; capital gains; income from employment; self-employment income; business income; different incomes.
IRES taxable subjects It has been said that IRES is a proportional tax with a rate of 24%, what changes is the method of calculating the taxable base in the various types of taxable subjects.
Article 75 establishes that the rate is applied to the total net income for tax periods.
The calculation of the tax base occurs differently and 3 macro-categories can be distinguished: joint-stock companies and resident commercial entities; resident non-commercial entities; non-resident companies and entities.
From now on, it is worth specifying that special regimes are provided for resident joint-stock companies based on the type of activity carried out and location.
This difference will be noticed above all when we indicate the tax codes.
As regards joint-stock companies and resident commercial entities, it must be underlined that article 81 of the TUIR provides for the principle of attraction, whereby the overall income produced is defined as "business income" whatever its nature.
The following are considered fiscally resident in Italy: companies or entities which for most of the tax period have their registered office or administrative headquarters or the main object of their activity in Italy; collective savings investment bodies established in Italy; Trusts (in this case if they are established in countries with which Italy has not adopted agreements for the exchange of information, they are considered resident if at least one of the settlors and one of the beneficiaries are fiscally resident in Italy).
Calculation of the IRES tax base 2024 The fundamental rule for calculating the 2024 IRES taxable base is article 83 of the TUIR, which establishes that, to calculate the taxable base, the decreasing and increasing variations provided for by the legislation must be added to the result of the income statement.
Among the increasing variations (these are non-deductible or partially deductible costs) we remember: 80% of the costs incurred for vehicles partially deductible, for example fuel and insurance costs (these costs are therefore deductible at 20%); 20% of telephone traffic costs (therefore deductible at 80%); 25% of entertainment expenses, including room and board; 20% of internet services and fees; 100% fines and fines.
Among the decreasing variations (non-taxable revenues or costs not deducted in previous years) there are: 100% of non-taxable tax credits and super-depreciation.
Applying the principle of inherence established in article 109 of the TUIR, expenses and other negative components are deductible if, and to the extent that, they refer to activities or assets from which revenues or other income derive.
Costs, of course, are deductible if they are inherent to the business activity, therefore there must be a functional connection between the activity carried out and the cost incurred and to be deducted.
Furthermore, based on article 84 of the TUIR, the losses of a financial year can be deducted, without any time limit, in subsequent financial years up to the limit of 80% of the taxable income.
The costs incurred for employee services (including salaries, social security contributions, insurance) are fully deductible even if paid as donations.
An exception is made for the donations indicated in article 95 of the TUIR which provides for limits, for example for food and accommodation costs.
As regards resident non-commercial entities, article 72 of the TUIR, seen previously, must be taken into consideration.
It follows that the taxable base is given by the sum of: land, capital, business income and other income achieved in the reference tax period.
Losses deriving from the commercial activity carried out must be deducted from these (articles 143 to 150 of the TUIR).
We remind you that according to article 149 of the TUIR paragraph 1, regardless of the qualification provided for in the statute, the entity loses its qualification as a non-commercial entity if it mainly carries out commercial activities.
Commercial activities are those falling under article 2195 of the civil code.
For non-resident companies and entities, in order to calculate the IRES taxable base, only income produced by activities carried out in Italy must be taken into consideration.
If these subjects have a permanent establishment in Italy, they apply the principles seen for joint-stock companies and commercial entities.
If they do not have a permanent establishment, but are commercial entities, they are taxed according to the rules established for land, capital and other income.
If they are non-commercial entities, they are taxed exclusively for income produced in Italy with the same rules seen for residents.
Who pays IRES in 2024? Taxable subjects The subjects obliged to submit the IRES declaration are outlined in article 73, as amended by article 12 of legislative decree 44 of 2014, of the TUIR.
Paragraph 1 specifies that the following are IRES taxable subjects: joint-stock companies, limited partnerships by shares, limited liability companies, cooperative and mutual insurance companies, European companies and European cooperative companies resident in the territory of the State; public and private bodies (other than companies) resident in Italy, including trusts, and which have as their exclusive or main object the exercise of commercial activities; finally, for income produced in Italy, companies and entities of all types, including trusts, are required to submit an IRES declaration.
As regards the subjective sphere, article 73 paragraph 2 of the TUIR specifies that among the bodies other than companies, mentioned in paragraph 1, the following must be included: unrecognized associations, consortia and other organizations not belonging to other subjects passive.
IRES is applied to these subjects upon the occurrence of the tax requirement, i.e.
the production of income envisaged by Article 72 of the TUIR.
As regards Trusts, article 73 paragraph 2 last sentence specifies that the income of the trusts is attributed to the beneficiaries in proportion to their shares; if these are not indicated, they are considered equal.
Subjects exempted from Ires 2024 The subjects exempted from the 2024 Ires declaration are indicated in article 74 of the TUIR paragraph 1 as amended by law decree 124 of 2019 article 57.
These are: state bodies and administrations; Common; consortia between local authorities; unions of municipalities; associations and bodies managing collective state property; mountain communities, Provinces and Regions.
Article 73 paragraph 5 quinquies of the TUIR provides for further exempted subjects.
These are collective savings investment bodies established in Italy and those based in Luxembourg, in the cases provided for by art.
73, paragraph 5-quinquies TUIR.
When is Ires 2024 paid? Declaration to be submitted in advance In 2024 there are important changes for the presentation of the IRES declaration: the deadlines are changing.
The tax delegation law in article 16 provides for the rationalization of declaration obligations.
From this rule came the unification of the terms for the presentation of the various tax returns with the legislative decree Legislative Decree.
«Rationalization and simplification of the rules regarding tax compliance» approved by the Council of Ministers on 19 December 2023.
As regards Ires, the compliance deadlines are set «on the last day of the ninth month following the closing of the tax period 'tax".
The previous provision required the presentation of the IRES return by the last day of the eleventh month.
It follows that the IRES declaration starting from 2 May 2024 must be submitted by 30 September of each year.
However, there is an exception: these are subjects whose tax period does not coincide with the calendar year and expires after 2 May 2024.
In this case, the eleventh month following the expiry of the current tax period will continue to be valid next year.
It must be submitted using the electronic services made available by the Revenue Agency.
Access can be performed with: Spid; There is; Cns.
Furthermore, you can log in with the credentials issued by Entratel/Fisconline.
Once the declaration has been submitted, the taxpayer receives the message confirming receipt of the file.
At this point it is checked automatically and any errors are detected (the checks in this phase are only on material errors, i.e.
compilation errors).
Sending can also be done by delegation to professionals.
After this automated check, the taxpayer receives the communication confirming the submission of the return.
Taxes are paid using Form F24.
The deadlines for payment of the amounts are: 30 June: balance relating to the previous year's declaration and first installment deposit.
The first installment deposit can be paid within 30 days of the initial deadline, with an increase of 0.40% as interest.
The first installment deposit is equal to 40% of the tax due; if the amount is less than 103 euros, a single payment is possible; 30 September: second installment down payment (60% of the entire amount) or single payment.
How to pay and tax codes As anticipated, IRES payment takes place with the F24 Form, however the exact tax codes must be indicated in the same.
Here are which ones to use depending on the case: Tax Code Description 1120 Substitute tax for Ires and Irap relating to siiq (listed real estate investment company) and siinq (unlisted real estate investment company), pursuant to law 27-12- 2006, n.
296, art.
1, paragraph 126.
resolution n.37/e of 7/2/2008 1121 Ires and IRAP substitute tax on contributions to siiq, siinq and real estate funds 1132 Tax redetermined for Ires purposes for the non-reinvested capital gain deriving from termination of the qualified participation 1668 Interest on deferred payments 2001 Advance payment for the first installment 2002 Advance payment for the second installment or single solution 2003 Balance 2004 Additional IRES on advance payment for the first installment art.
31, c.3, dl 185/2008 2005 Additional IRES on advance payment of the second installment or advance payment in a single installment 2006 Additional IRES advance balance 2010 Additional IRES oil and gas sector advance payment for the first installment 2011 Additional IRES advance payment for second installment or single solution oil sector and gas 2012 Additional Ires oil and gas sector balance 2013 Additional Ires 4% oil and gas sector-art.
3, c.
2, ln 7/09 first installment advance 2014 Additional IRES 4% oil and gas sector advance second installment or single solution 2015 Additional IRES 4% oil sector balance 2016 IRES recovery for forfeiture of the benefits provided for innovative start-ups – consolidated or transparent entity 2016 2017 Recovery of IRES in the oil and gas sector due to forfeiture of the benefits provided for innovative start-ups 2018 IRES increase in advance for first installment art.
2, c.
from 36-quinquies to 36-novies, of legislative decree 13/08/2011, n.
138, conv., with mod., by l.
14/09/2011, n.
148, and following.
mod.
2019 Ires increase for second installment or single solution 2020 Ires increase for balance 2025 Ires additional for credit, financial and insurance institutions (article 2, paragraph 2, legislative decree 30 November 2013, n.
133) 2026 Tax in installments on the capital gain from exit tax of which to art.
166 of the tuir-Ires 2027 Tax in installments on the capital gain from exit tax referred to in article 166 of the tuir-Ires increase – shell company 2028 Tax in installments on the capital gain from exit tax in the oil and gas sector 2030 Tax in installments on the capital gain from exit tax financial, credit and insurance institutions 2031 Ires quota for plants in Sicily first instalment, decree 19/12/2013 2032 Ires quota for plants in Sicily second installment or single solution 2033 Ires quota for plants in Sicily balance 2034 Additional Ires quota for plants in Sicily – oil and gas sector – first installment 2035 Additional Ires quota, plants in Sicily, oil and gas sector – second installment or single solution 2036 Additional Ires quota, quota of plants in Sicily oil and gas sector – balance 2037 Additional Ires quota, quota of plants in Sicily, credit, financial and insurance institutions 2038 Ires increase, plant quota in Sicily, shell company first installment 2039 Ires increase, plant quota in Sicily shell company, second installment or single solution 2040 Ires plant quota in Sicily, company Ires markup of convenience balance 8920 Amounts due as a sanction pursuant to article 33, paragraph 4, letter b), of legislative decree 09/30/2003, n.
269 – Ires