Withholding taxes revised in part ST of the 770 model

The October 31st the deadline for submitting the declaration of withholding agents Model 770/2022 by the taxpayers than in 2021 they have paid sums or values subject to withholding tax on capital gains, commercial goodwill fees, contributions to public and private entities, redemptions from life insurance contracts, premiums, winnings and other financial income including those deriving from investments in collective investment schemes under foreign law, profits and other equivalent income deriving from equity investments in corporations, atypical securities, and other income, as well as for those who have paid sums or values subject to withholding taxpursuant to articles 23, 24, 25, 25-BIS, 25-ter, 29, Presidential Decree 600/1973 And article 33, paragraph 4, Presidential Decree 42/1988.

In particular, in the framework ST i data relating to payments of withholding taxes on sums paid out in the year 2021. The following must also be indicated:

  • the withholdings made starting from March 2021 and the related payments made following the inability of the salaries to undergo the levy deriving from the balance at the end of the year 2020 (article 23, paragraph 3, Presidential Decree 600/1973), these sums must be paid by indicating in F24 the month and year in which the withholdings were made;
  • withholdings made following procedures of seizure from third parties referred to inarticle 21, paragraph 15, Law 449/1997;
  • the payment relating to the credit of supplementary treatment (DL 3/2020) recovered by the withholding agent when carrying out the adjustment operations;
  • the data of the relative repentance to withholding taxes and substitute taxes on capital gains and other financial income, made pursuant toarticle 34, fourth paragraph, Law 388/2000;
  • the data of late payments relating to the tax period 2021 carried out within the presentation of the declaration.

In the case of late paymentsyou can make the active repentanceaccording to the terms dictated byarticle 13 of Legislative Decree 472/1997:

  • within thirty days from the expiry of the payment of the withholding tax, with a penalty reduced to 1/10 of 15% of the withholding tax;
  • within the ninetieth following day, with a penalty reduced to 1/9 of 15%;
  • by deadline for submitting the withholding tax return relating to the year in which the violation was committed, with a penalty reduced to 1/8 of 30% (equal to 3.75%);
  • within the deadline for submitting the return relating to the year following the one in which the violation was committed, with a penalty reduced to 1/7 of 30% of the withholding tax.

Therefore, by 31 October it is possible to carry out the active amendment of the withholdings relating to the year 2021 not paid by the prescribed deadlines with application of the penalty reduced to 3.75% on the amount of the withholding tax. Interest is calculated at the legal rate for days of delay, from the day following the deadline to the day of payment included.

The regularized withholdings can be inserted in the ST framework of the Model 770/2022 with the following indications.

In the point 1 must be reported, for each amount withheld, the reference period. Unless otherwise specified, this period consists of month and year effective date of the obligation to carrying out the withdrawal. The same compilation mode must be used even in the case of payment for active repentance. In the point 2 it is necessary to report the amount of withholding taxes originally operated.

In the point 7 the amount resulting from the column “Debt amounts paid“Of the F24 payment form, regardless of whether external compensations are made. This amount is including any interest indicated in point 8.

In the point 8with regard to the sums set out in point 2, the amount of interest for amendment pursuant toarticle 13, Legislative Decree 472/1997. No line must be completed for the payment of the sanction.

In the point 9 the box must be crossed in the event that the payment, highlighted in point 7, has been subject to active amendment.

The payment made making use of the industrious repentance of more fulfilments omitted resulting from Part ST and identified by same tax code must be reported on same F24taking care to fill in a distinct staff of the payment proxy for each line of part ST. Similarly, the reduced sanction (tax code 8906) must be indicated in the proxy separately for each fulfillment.

Let’s assume the non-payment of one withholding tax on self-employment incometax code 1040, expiring on February 16, 2021 (January reference period), for € 1,000.

The payout comes regularized with repentance active on October 16, 2022, paying a penalty of € 37.50 (equal to 3.75%) with tax code 8906, period 01/2021.

The interests they are calculated, from the day following the due date to the day of payment inclusive, taking into account the change in the legal rate from 0.01% up to 31 December 2021, to 1.25% starting from 1 January 2022. They amount to 9 , 99 euros (i.e. 1,000 euros * 0.01 * 318 days / 36,500 = 0.09 euros for 2021 plus 1,000 euros * 1.25 * 289 days / 36,500 = 9.90 euros for 2022) and are paid in addition to the tax code 1040.

In the ST framework of model 770/2022 the regularized withholding tax will also be included.

Finally, remember that in the case of incorrect indication of the tax code in the F24 payment form (e.g. withholdings on indemnity for the termination of co. co. co. relationships paid with the code 1040 instead of the tax code 1012) the regularization can be carried out with the Civis service of the Revenue Agency with which it is possible to modify the tax code, the month and the year of reference. The compilation of part ST must then be carried out by reporting, in the ordinary manner, the correct tax code.

Source link

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

Check Also

A scholarship week can be worth a whole year of waiting

The financial markets are the realm of surprises and if someone dares to have convictions, …

Leave a Reply

Your email address will not be published. Required fields are marked *