[REVISION HISTORY]

Italy fiscal policy, tax reform and administrative updates

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What changed

2026-10-05 11:49 UTC → 2026-10-12 08:44 UTC · added ~~removed~~

Italy is advancing a major fiscal reform aimed at increasing predictability and spontaneous compliance. A new Tax Code is expected to be presented to the Council of Ministers by October, supported by four billion euros in funding and over 400 regulatory interventions. This reform includes eight consolidated texts designed to unify income tax regulations, including special and flat-rate regimes. To facilitate this transition, the Department of Finance will develop a digital program to link old regulatory references to new provisions. A significant shift in the sanction system is underway. Under a new consolidated text scheduled for January 1, 2027, sanctions will be calibrated based on the severity of violations and taxpayer conduct. The reform introduces the ‘principle of offensiveness,’ meaning purely formal errors that do not hinder controls or impact payments will no longer be punishable. For regional and local taxes like IMU and TARI, new measures for violations committed from January 1, 2027, include a 100% penalty for failure to file and a 40% penalty for inaccurate declarations. ~~Administrative~~ Recent legislative updates ~~include a 5% tolerance threshold~~ via the Omnibus Decree (Legislative Decree 148/2026) have introduced new tax treatments for ~~discrepancies between POS payment data and fiscal receipts to protect businesses~~ self-employed professionals. Positive differentials from ~~connectivity~~ the sale or ~~human errors. Regarding~~ compensation of purchased tax ~~notifications, taxpayers may challenge assessments delivered via Certified Electronic Mail (PEC) if they can prove more than ten years have passed since~~ credits are now classified as self-employment income and subject to a 26% substitute tax. Additionally, the ~~original notification without interruption. For those missing~~ decree extends deadlines for VAT deductions and passive invoice registration to the ~~September 30 Modello 730 deadline,~~ second year following the ~~‘ravvedimento operoso’ process allows regularization within 90 days to reduce~~ year the ~~standard 250 euro fine~~ right arose. Regarding electronic payments, starting January 1, 2026, merchants must communicate the logical association between POS devices and electronic registers. While a 5% tolerance threshold exists for numerical discrepancies, failure to ~~25 euros. Beyond 90 days, omissions~~ link a POS to a register can incur ~~penalties~~ fines between ~~120%~~ 1,000 and ~~240% of taxes owed.~~ 4,000 euros.

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