Deadline Approaching: New Guidelines and Updates for the 2024 Tax Return Model 730 Due by September 30

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Model 730/2024 Submission Deadline

The Model 730/2024 must be submitted by September 30, 2024.
As we gear up for the income tax declaration rush, it’s vital to understand this year’s updates and the instructions for proper completion.
The guidelines for submission have been provided by the Agency of Revenues through decree 68472/2024 issued on February 28, 2024, which also introduced the new 730/2024 model.

Technical specifications for model transmission were revealed through decree 68478.
So, what are the new changes for the 2024 income tax declaration? For the assessment period of 2023, employees and pensioners will continue using the 730 model, maintaining the September 30 submission deadline.

Key Changes for 2024

Among the changes in the new 730/2024 form is the simplified taxation of tips and alterations in the sports employment sector.
The new model reflects changes such as a decrease in the maximum deductible limit for the furniture bonus.
Additional updates encompass:

• Taxation of cryptocurrencies;
• Amendments to the flat-rate scheme;
• Incremental flat tax;

Complete Guide to Model 730/2024

The season kicked off with the release of the definitive 730/2024 models on April 30, 2024.
This rollout includes both the model and compilation instructions.

Noteworthy adjustments in this year’s declaration encompass the eligibility expansion for taxpayers.
Now, incomes requiring the Redditi Pf are declared using the 730 model, marking a significant change.

Submission Process

Taxpayers can access their pre-filled declaration online via SPID, Electronic ID Card, or National Service Card credentials.
Submitting the 730 model is user-friendly as calculations are automated, streamlining the process for employees and pensioners alike.
Potential debts or credits can be settled through payroll.

Changes Explained

To enhance accessibility, the 730 model can now report diverse incomes previously filed under the Redditi model.
Significant novelties include:

• Support for claims on dependent family members;
• Revised taxation for tips;
• Redefined regulations for sports labor;
• Altered deduction limits for the furniture bonus;
• Tax treatment for cryptocurrencies;

Specifics of the New Regulations

Detracting from earlier policies, deductions for dependent minors are no longer available, only for dependents aged 21 and over.
The introduction of a new “RU” section caters to agricultural entrepreneurs.
Furthermore, updates allow for simplified reporting for those under the threshold of 50k euros.
For cryptocurrency, new laws regarding capital gains apply.

Overall, the upcoming tax season reshapes how various income sources are reported and taxed, aiming for greater simplicity and accessibility for taxpayers.

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