Tax Pills

Other 100,000 compliance letters are just on their way. The fiscal invites concern incomes not declared, in whole or in part, in 2014
One hundred thousand preventive communications are on the road to reach the same number of taxpayers who, according to the data held by the Revenue Agency, did not declare in 2014 the correct amount of incomes earned during the previous year. These are not fiscal assessment notifications, but simple communications, which travel by ordinary mail or directly by certified e-mail and through which the Agency informs the recipients that from the data crossing piled in their databases emerge undeclared sums, all or partly.
The number of preventive communications sent on the current year have already exceeded the threshold of 420 thousands - With this latest wave of fiscal invitations, the alerts sent by the Revenue Agency that call on taxpayers to correct mistakes and omissions will thus exceed 420,000 in 2017. Last year, the number of compliance letters sent totaled 533,000.
Look to the voluntary fiscal correction - Letter recipients, including for the first time also self-employed income holders, can justify the fiscal anomaly or rectify eventual irregularities by submitting a supplementary statement, also known as voluntary correction tax return, thanks to which taxpayers can benefit from reduced penalties.
Better to opt for a fiscal dialogue than for the usual tax battle ground founded on tax assessments, inspections and common accesses - With this new round of preventive communications, Italy’s Revenue Agency continues to privilege the path of a preventive dialogue, with the aim of avoiding that a mere and conceivable mistake, or just a simple forgetfulness, can evolve in a serious and severe tax enforcement notice, despite the taxpayers making just a trivial mistake. A procedure, which usually implies a full payment of both severe fiscal sanctions and interests.
Seven are the types of incomes under scrutiny by this latter lot of preventive communications - In detail, the outgoing volume of dedicated compliance letters are specifically addressed to individual taxpayers and are originated by fiscal anomalies related to 7 different types of oncomes shown as follows:
incomes from buildings due to the renting of immovable property, subject either to ordinary taxation or to a fix coupon, the so-called “flat rate tax”; incomes of an employed or self-employed person, including periodic payments paid by a spouse or former spouse; associated profits resulting from participation in partnerships or businesses between artists and professionals and income from participation in limited liability companies with transparency; capital gains arising from the qualifying holding in venture capital companies; income derived from usual and professional self-employment; other incomes and those incomes deriving from common and non-professional self-employment; business income with reference to the annual installments of the gains and asset surplus.

Nonresidential real estate turns positive again in Italy. In 2016 the number of sales and purchases rises of 16%
The Italian nonresidential real estate market returns to grow in 2016, recording a steep rise (+16.1%) in sales volumes of shops, offices and warehouses. This is the first time in ten years that the growth regards, at the same time, the three sectors: tertiary (+12.5%), commercial (+16.6%) and productive (+22.1%). Moreover, the estimated exchange value for the three sectors reached 15.6 billion euro, up 15.3% on the previous year. Good news also for leasing contracts: more than 480 thousand new contracts signed in 2016, with a total volume of funding exceeding 20 billion euros. These are the main data emerging from the nonresidential Real Estate Report, carried out by the Revenue Agency in collaboration with Assilea, the Italian Leasing Association.
The offices market grows by 12.3% compared to 2015, a meaningful turnaround after years of continuous reductions. The highest increases have been registered in the North West with a growth of 17.5%, followed by the North east, +14.7% and the South, +13%, while the growth in the Central regions has been more modest, +5%. Lombardy holds the largest market share, accounting alone for 28.4% of domestic transactions, and an increase of sales in 2016 around 20%. Office prices are decreasing in all regions and at national level, in 2016, the average office listing is 1,404 €/m2, down by -3.6% compared to 2015. Lazio is the region with the highest average listing, with 2,125 €/m2, dropped by 6.1% compared to 2015.
The Shops Market  marks a 15.1% increase in 2016, a very positive year for shops sales with a relevant transactions growth from 22,869 in 2015 to 26,319 in 2016. Also in this sector, Lombardy, among the most relevant regions, shows one of the best performances in the market, with a rise of 13.9%, compared to 2015. In terms of volumes exchanged in 2016, there is a general increase compared to 2015, with the only exceptions of Naples, Verona and Bologna. The highest rate was recorded in Catania (+42.1%), Genoa (+25.6%) and Bari (+20.7%).
The warehouses market, after the sharp drop in 2015, returns to grow all around the Country. The productive sector has showed a substantial increase (+22.1%) over the previous year, with 11,287 transactions finalized in 2016. Also in this case, Lombardy is the leader region, both for the number of sales, 3.059 in 2016 (+19.6%), and because it accounts for more than a quarter of the national market (27%).
FiscoOggi è una pubblicazione dell'Agenzia delle Entrate - Ufficio Comunicazione
Testata registrata al Tribunale di Roma il 19.9.2001 con n. 405/2001
Direttore responsabile Claudio Borgnino