Italian Decree Law 73 of 21 June 2022, published in OJ 143 of 21 June 2022, introduced urgent tax simplification measures and financial provisions (the “Tax Simplification” Decree).
While Italian Decree Law 73/2022 entered into force on 21 June 2022, specific effective dates have been established for certain provisions. The Decree Law is in the process of being converted into law and its provisions could therefore be amended or supplemented.
The main changes include:
- extension of the principle of enhanced derivation to micro enterprises;
- relevance for tax purposes in the period income components recorded as a result of the correction of accounting errors are carried in the financial statements;
- repeal of the rules concerning systematic loss-making companies as from the 2022 “calendar” tax period;
- rationalisation of IRAP deductions for temporary employees; amendments to the “Esterometro” rules;
- increase, from EUR 250.00 to 5,000.00, of the threshold for deferral of the payment of stamp duty on electronic invoices relating to the first or the first two calendar quarters.