Tax deadlines and ravvedimento operoso: a practical guide
Managing tax deadlines properly means avoiding penalties, interest and disputes, but also planning the cash flow of the business and of the professional practice. This guide sets out, in order, the calendar of recurring obligations, how payments on account and balancing payments work, the use of the F24 payment form with offsetting and, above all, ravvedimento operoso (voluntary settlement): the mechanism that allows you to regularise omitted or late payments on your own initiative, paying heavily reduced penalties.
Note on updating. The penalty percentages and the ravvedimento rules reflect the reform of the tax penalty system (D.Lgs. 87/2024), in force for violations committed from 1 September 2024. The calendar dates and the statutory interest rate must be checked year by year against the official measures: the figures still to be confirmed for 2026 are flagged in the text.
The tax calendar for businesses and professionals
Obligations fall into three categories: recurring monthly deadlines (F24 payments for VAT, withholding tax and social security contributions), periodic deadlines (quarterly payments and payments on account/balancing payments) and annual filing obligations. When a deadline falls on a Saturday or a public holiday, it moves to the first following working day.
Monthly deadlines (normally the 16th)
Monthly VAT: payment of the VAT due for the previous month by the 16th.
Withholding tax: the sostituto d’imposta (withholding agent) pays by the 16th of the following month the tax withheld on employment income, self-employment income and commissions.
INPS social security contributions for employees: by the 16th of the following month, together with the UniEmens filing.
Periodic and annual deadlines
Quarterly VAT (by election): 16 May, 20 August, 16 November, with the fourth-quarter adjustment made in the annual return; a 1% surcharge applies to the first three quarters.
Annual VAT balancing payment: by 16 March, with the option of instalments or of deferral to the income tax deadline by applying 0,40% per month.
INPS contributions for craft businesses and traders (fixed instalment): 16 May, 20 August, 16 November, 16 February; the portion above the minimum threshold follows the income tax payments on account and balancing payment.
Balancing payment and first payment on account of IRPEF/IRES and IRAP: by 30 June, or by 30 July with a 0,40% surcharge.
Second payment on account: by 30 November.
IMU (municipal property tax): payment on account by 16 June, balancing payment by 16 December.
Certificazione Unica (annual income certificate): delivery and electronic filing by 16 March.
Modello 770: by 31 October.
Annual VAT return: between 1 February and 30 April.
Modelli Redditi and IRAP returns: by 31 October (to be confirmed for 2026).
Obligation
Usual deadline
Who is concerned
Monthly VAT
16th of each month
VAT-registered taxpayers on the monthly regime
Withholding tax
16th of the following month
Withholding agents (sostituti d’imposta)
INPS contributions for employees
16th of the following month
Employers
Quarterly VAT
16/5 – 20/8 – 16/11
Quarterly taxpayers
Annual VAT balancing payment
16 March
VAT-registered taxpayers
INPS craft businesses/traders
16/5 – 20/8 – 16/11 – 16/2
Craft businesses and traders
Balancing payment + 1st payment on account, income tax and IRAP
30 June (or 30/7 +0,40%)
Businesses and professionals
2nd payment on account, income tax and IRAP
30 November
Businesses and professionals
IMU payment on account / balance
16 June / 16 December
Property owners
Certificazione Unica
16 March
Withholding agents (sostituti d’imposta)
Modello 770
31 October
Withholding agents (sostituti d’imposta)
Annual VAT return
30 April
VAT-registered taxpayers
How payments on account and balancing payments work
Income taxes and IRAP are paid at two points in time: the balancing payment for the year just closed and the payments on account for the current year. The balancing payment covers the difference between the tax due and what has already been paid on account; the payments on account anticipate the tax for the current period in two instalments.
Historical method and forecast method
Historical method: the payment on account is calculated on the tax due for the previous year. It is the safest, because it is based on a known figure.
Forecast method: it is measured against the tax you expect to owe for the current year. It is worthwhile if you expect lower income, but if the forecast is too low, penalties and interest apply on the underpayment, which can be settled through ravvedimento.
The F24 payment form and offsetting
The F24 is the single form used to pay taxes, social security contributions and insurance premiums and to offset debits against credits.
Vertical offsetting: between debits and credits of the same tax.
Horizontal offsetting: between different taxes. Subject to limits and, above certain thresholds, to the requirement of a visto di conformità (compliance certification).
If the F24 contains offsets it must be filed through the electronic channels of the Agenzia delle Entrate (Italian Revenue Agency); an F24 with a zero balance must still be filed, and failure to do so can be settled through ravvedimento.
Ravvedimento operoso (voluntary settlement)
Ravvedimento (art. 13 D.Lgs. 472/1997) allows a taxpayer who has failed to pay, or has paid late or in an insufficient amount, to regularise the position voluntarily by paying a reduced penalty, together with statutory interest and the tax itself. The sooner the position is regularised, the greater the reduction. It remains available as long as the violation has not already been challenged by a formally notified assessment.
The penalty reform from 1 September 2024
For violations committed from 1 September 2024 the basic penalty for omitted or late payment has fallen from 30% to 25%. Two automatic reductions operate on that basis:
Payment within 90 days: penalty halved, therefore 12,5%.
Payment within 15 days: the 12,5% is further reduced to 1/15 for each day of delay (about 0,8333% per day).
Mind which regime applies in time. Violations up to 31 August 2024 are still subject to the 30% basic penalty with the old fractions.
Reductions by time band
Type
When
Fraction
Effective penalty
Sprint
within 14 days
1/10 of 1/15 per day
about 0,0833% per day
Short
from the 15th to the 30th day
1/10 of 12,5%
1,25%
Intermediate
from the 31st to the 90th day
1/9 of 12,5%
about 1,39%
Within the return
within the filing deadline
1/8 of 25%
3,125%
Beyond the return
after that deadline
1/7 of 25%
about 3,57%
After a formal finding
after an inspection report
1/6 of 25%
about 4,17%
Statutory interest
Ravvedimento also requires statutory interest, calculated day by day: tax × statutory rate × days / 365. The rate is set each year by decree of the MEF (Italian Ministry of Economy and Finance); if the delay spans more than one year, the rate in force applies to each stretch.
Year
Statutory interest rate
2023
5%
2024
2,5%
2025
2%
2026
2% (to be confirmed by the MEF decree)
Worked example
A VAT liability of 10.000 euro not paid by the deadline of 16 March 2026 and regularised on 10 April 2026, 25 days late: short ravvedimento, basic penalty halved to 12,5% and then reduced to 1/10.
The same liability regularised within 5 days would cost about 41,67 euro in penalties: acting quickly pays off substantially. Tax, penalty and interest are paid with the same F24, each under its own tax code.
Mistakes to avoid
Paying the tax but forgetting the penalty and the interest: ravvedimento is only completed when all three components are paid.
Wrong tax codes or reference year on the F24.
Getting the date of the violation wrong, and therefore the applicable regime (25% from 1 September 2024, 30% before that).
Trying to use ravvedimento after an assessment has been notified: it is no longer available for that violation.
Applying the wrong statutory rate when the delay spans a change of year.
Points to check for 2026
Before making payments or ravvedimenti in 2026 it is worth confirming: the statutory interest rate set by the MEF decree; the filing deadline for the Redditi and IRAP returns; any extensions for ISA taxpayers; the postponement of deadlines falling on a Saturday or a public holiday. Studio Antolini is available for the precise calculation of penalties and interest and for the correct completion of the F24.
Tax deadlines and ravvedimento operoso: a practical guide
Managing tax deadlines properly means avoiding penalties, interest and disputes, but also planning the cash flow of the business and of the professional practice. This guide sets out, in order, the calendar of recurring obligations, how payments on account and balancing payments work, the use of the F24 payment form with offsetting and, above all, ravvedimento operoso (voluntary settlement): the mechanism that allows you to regularise omitted or late payments on your own initiative, paying heavily reduced penalties.
Note on updating. The penalty percentages and the ravvedimento rules reflect the reform of the tax penalty system (D.Lgs. 87/2024), in force for violations committed from 1 September 2024. The calendar dates and the statutory interest rate must be checked year by year against the official measures: the figures still to be confirmed for 2026 are flagged in the text.
The tax calendar for businesses and professionals
Obligations fall into three categories: recurring monthly deadlines (F24 payments for VAT, withholding tax and social security contributions), periodic deadlines (quarterly payments and payments on account/balancing payments) and annual filing obligations. When a deadline falls on a Saturday or a public holiday, it moves to the first following working day.
Monthly deadlines (normally the 16th)
Monthly VAT: payment of the VAT due for the previous month by the 16th.
Withholding tax: the sostituto d’imposta (withholding agent) pays by the 16th of the following month the tax withheld on employment income, self-employment income and commissions.
INPS social security contributions for employees: by the 16th of the following month, together with the UniEmens filing.
Periodic and annual deadlines
Quarterly VAT (by election): 16 May, 20 August, 16 November, with the fourth-quarter adjustment made in the annual return; a 1% surcharge applies to the first three quarters.
Annual VAT balancing payment: by 16 March, with the option of instalments or of deferral to the income tax deadline by applying 0,40% per month.
INPS contributions for craft businesses and traders (fixed instalment): 16 May, 20 August, 16 November, 16 February; the portion above the minimum threshold follows the income tax payments on account and balancing payment.
Balancing payment and first payment on account of IRPEF/IRES and IRAP: by 30 June, or by 30 July with a 0,40% surcharge.
Second payment on account: by 30 November.
IMU (municipal property tax): payment on account by 16 June, balancing payment by 16 December.
Certificazione Unica (annual income certificate): delivery and electronic filing by 16 March.
Modello 770: by 31 October.
Annual VAT return: between 1 February and 30 April.
Modelli Redditi and IRAP returns: by 31 October (to be confirmed for 2026).
Obligation
Usual deadline
Who is concerned
Monthly VAT
16th of each month
VAT-registered taxpayers on the monthly regime
Withholding tax
16th of the following month
Withholding agents (sostituti d’imposta)
INPS contributions for employees
16th of the following month
Employers
Quarterly VAT
16/5 – 20/8 – 16/11
Quarterly taxpayers
Annual VAT balancing payment
16 March
VAT-registered taxpayers
INPS craft businesses/traders
16/5 – 20/8 – 16/11 – 16/2
Craft businesses and traders
Balancing payment + 1st payment on account, income tax and IRAP
30 June (or 30/7 +0,40%)
Businesses and professionals
2nd payment on account, income tax and IRAP
30 November
Businesses and professionals
IMU payment on account / balance
16 June / 16 December
Property owners
Certificazione Unica
16 March
Withholding agents (sostituti d’imposta)
Modello 770
31 October
Withholding agents (sostituti d’imposta)
Annual VAT return
30 April
VAT-registered taxpayers
How payments on account and balancing payments work
Income taxes and IRAP are paid at two points in time: the balancing payment for the year just closed and the payments on account for the current year. The balancing payment covers the difference between the tax due and what has already been paid on account; the payments on account anticipate the tax for the current period in two instalments.
Historical method and forecast method
Historical method: the payment on account is calculated on the tax due for the previous year. It is the safest, because it is based on a known figure.
Forecast method: it is measured against the tax you expect to owe for the current year. It is worthwhile if you expect lower income, but if the forecast is too low, penalties and interest apply on the underpayment, which can be settled through ravvedimento.
The F24 payment form and offsetting
The F24 is the single form used to pay taxes, social security contributions and insurance premiums and to offset debits against credits.
Vertical offsetting: between debits and credits of the same tax.
Horizontal offsetting: between different taxes. Subject to limits and, above certain thresholds, to the requirement of a visto di conformità (compliance certification).
If the F24 contains offsets it must be filed through the electronic channels of the Agenzia delle Entrate (Italian Revenue Agency); an F24 with a zero balance must still be filed, and failure to do so can be settled through ravvedimento.
Ravvedimento operoso (voluntary settlement)
Ravvedimento (art. 13 D.Lgs. 472/1997) allows a taxpayer who has failed to pay, or has paid late or in an insufficient amount, to regularise the position voluntarily by paying a reduced penalty, together with statutory interest and the tax itself. The sooner the position is regularised, the greater the reduction. It remains available as long as the violation has not already been challenged by a formally notified assessment.
The penalty reform from 1 September 2024
For violations committed from 1 September 2024 the basic penalty for omitted or late payment has fallen from 30% to 25%. Two automatic reductions operate on that basis:
Payment within 90 days: penalty halved, therefore 12,5%.
Payment within 15 days: the 12,5% is further reduced to 1/15 for each day of delay (about 0,8333% per day).
Mind which regime applies in time. Violations up to 31 August 2024 are still subject to the 30% basic penalty with the old fractions.
Reductions by time band
Type
When
Fraction
Effective penalty
Sprint
within 14 days
1/10 of 1/15 per day
about 0,0833% per day
Short
from the 15th to the 30th day
1/10 of 12,5%
1,25%
Intermediate
from the 31st to the 90th day
1/9 of 12,5%
about 1,39%
Within the return
within the filing deadline
1/8 of 25%
3,125%
Beyond the return
after that deadline
1/7 of 25%
about 3,57%
After a formal finding
after an inspection report
1/6 of 25%
about 4,17%
Statutory interest
Ravvedimento also requires statutory interest, calculated day by day: tax × statutory rate × days / 365. The rate is set each year by decree of the MEF (Italian Ministry of Economy and Finance); if the delay spans more than one year, the rate in force applies to each stretch.
Year
Statutory interest rate
2023
5%
2024
2,5%
2025
2%
2026
2% (to be confirmed by the MEF decree)
Worked example
A VAT liability of 10.000 euro not paid by the deadline of 16 March 2026 and regularised on 10 April 2026, 25 days late: short ravvedimento, basic penalty halved to 12,5% and then reduced to 1/10.
The same liability regularised within 5 days would cost about 41,67 euro in penalties: acting quickly pays off substantially. Tax, penalty and interest are paid with the same F24, each under its own tax code.
Mistakes to avoid
Paying the tax but forgetting the penalty and the interest: ravvedimento is only completed when all three components are paid.
Wrong tax codes or reference year on the F24.
Getting the date of the violation wrong, and therefore the applicable regime (25% from 1 September 2024, 30% before that).
Trying to use ravvedimento after an assessment has been notified: it is no longer available for that violation.
Applying the wrong statutory rate when the delay spans a change of year.
Points to check for 2026
Before making payments or ravvedimenti in 2026 it is worth confirming: the statutory interest rate set by the MEF decree; the filing deadline for the Redditi and IRAP returns; any extensions for ISA taxpayers; the postponement of deadlines falling on a Saturday or a public holiday. Studio Antolini is available for the precise calculation of penalties and interest and for the correct completion of the F24.
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