July 2024 Tax Deadlines: Pay Attention to Income Tax Balance and Installment
July 2024 Tax Deadlines: Important Reminders
Even though many Italians have already started their holidays, there are tax deadlines in July 2024 that must be respected.
Let’s dive into the key dates and obligations for this month.
July 1st, 2024 Tax Deadlines: Irpef and Inventory Realignment
The first tax deadlines to remember are on July 1st, 2024, mostly due to the shift from June 30, which falls on a Sunday.
It is crucial not to forget the payment of the substitute tax for the adjustment of initial inventory balances, a favor provided for the fiscal year ending on December 31, 2023.
By this date, the Irpef balance for 2023 and the first installment for 2024 must be paid.
These obligations apply if there is no withholding agent; otherwise, they will handle the deductions.
Also due on June 30 (postponed to July 1st) is the payment of the flat-rate tax on property leases for 2023 and the advance for 2024.
Moreover, by July 1st, 2024, landlords must also submit the communication of short-term lease agreements signed in the previous year.
Additionally, the sixth installment of the reduced penalty, equal to 1/18 of the minimum, following a special reconciliation provided for by the 2023 Budget Law, must be paid by those who have opted for installment payments.
Other deadlines to comply with include: IMU declaration for non-commercial entities; annual fee payment to the Chamber of Commerce without surcharge, or by July 31, 2024, with a 0.40% increase.
Also, the final VAT payment for 2023 via F24 form with telematic methods.
July 16, 2024 Tax Deadlines
On the 16th of July, the focus shifts to the usual periodic payments.
Monthly VAT taxpayers must settle their obligations for June.
This date also includes the payment of INPS contributions for self-employed individuals and employees.
Furthermore, intermediaries in the real estate sector must pay withholding taxes on short-term lease contracts concluded in the previous month.
Among the obligations is also the Tobin Tax deadline.
End of Month Tax Deadlines
On the 25th of July, there is the unique deadline for submitting the lists of intra-community goods transactions for June (for monthly VAT subjects) and for the second quarter of 2024 (for quarterly VAT subjects).
Lastly, on July 31st, those who have adhered to the “rottamazione quater” and have paid the previous 4 installments must pay the fifth installment by this date.
Failure to meet this deadline may result in losing the tax benefit.
It is important to note that some taxpayers have until July 31st (without surcharge) to make their payments.
RuntimeObject from income tax returns, Irap, and VAT are also postponed.
