Italy's corporate tax return — the Modello Redditi SC — is due on November 30, eleven months after the fiscal year closes. That date is also the same day as the second IRES advance payment, making it one of the most consequential deadlines in the Italian tax calendar. Foreign owners of Italian SRLs routinely confuse the return filing date with the June advance payment deadline or assume Italian compliance follows the same rhythm as their home country. The consequences — missed acconti, late returns, and penalties up to 240% of tax due — are entirely avoidable with the right calendar in hand.
This guide sets out the complete annual filing calendar for a foreign-owned Italian SRL: every deadline, every form, every payment date, and the self-correction mechanism (ravvedimento operoso) that dramatically reduces penalties when something goes wrong. We also cover the Concordato Preventivo Biennale (D.Lgs. 13/2024), a forward-looking tool that no English-language source has covered in practical terms.
Company Italy's Milan-based commercialisti manage Modello Redditi SC compliance for foreign-owned SRLs across multiple sectors. This guide reflects the law as of 2024–2025, including the penalty reforms under D.Lgs. 87/2024.
Important: This article provides general tax information for educational purposes. Italian tax law changes frequently. Always consult a qualified Italian tax advisor before making tax or financial decisions.
Who Must File a Corporate Tax Return in Italy
The obligation to file an Italian corporate tax return is established by Article 73 of the TUIR (Testo Unico delle Imposte sui Redditi). Any entity subject to IRES must file a Modello Redditi SC if, for the majority of the tax year, it meets any one of three criteria:
- Its registered office is in Italy
- Its effective management (sede dell'amministrazione) is in Italy
- Its principal business activity is conducted in Italy
The following entity types are required to file:
- SRL (Società a Responsabilità Limitata) — the most common vehicle for foreign entrepreneurs
- SPA (Società per Azioni) — listed and larger private companies
- Cooperatives subject to IRES
- Stabile organizzazioni — Italian branches of foreign companies
A foreign-owned SRL incorporated under Italian law is always an Italian tax resident — regardless of where the shareholder or director lives. Even if the sole shareholder is a US, UK, or UAE company and the director is based abroad, the SRL itself must file the Modello Redditi SC by November 30 and pay IRES and IRAP.
One commonly misunderstood rule: a company incorporated in Italy in the same calendar year may still need to file a short-year return covering only the period from incorporation to December 31. However, a first-year SRL generally owes no advance payments (acconti) because there is no prior-year base — the acconto obligation starts in Year 2.
If you are setting up an Italian SRL, the filing obligation begins immediately. For more on the entity itself, see our guide to Italian SRL incorporation.
The Annual Compliance Calendar: Every Deadline You Need
Every tax payment in Italy is made via the Modello F24 — an electronic payment form submitted through your commercialista or banking institution. All dates below assume a December 31 fiscal year end; an SRL with a different year-end shifts all dates proportionally.
| Date | Filing / Payment | Tax | Notes |
|---|---|---|---|
| April 30 | Annual VAT return (Dichiarazione IVA) | IVA | Separate from income tax; filed with Agenzia delle Entrate |
| June 30 | First IRES acconto (40% of prior-year IRES) + IRAP acconto | IRES / IRAP | Extendable to July 31 with 0.40% surcharge |
| July 31 | Extension deadline for June payment | IRES / IRAP | +0.40% surcharge on total amount |
| October 31 | Modello 770 (withholding tax annual return) | WHT | For companies that applied withholding to payments made to third parties |
| November 30 | Modello Redditi SC (corporate income tax return) | IRES / IRAP | 11 months after fiscal year end; balance tax (saldo) also due |
| November 30 | Second IRES acconto (60% of prior-year IRES) | IRES | Via F24; same calendar date as Modello Redditi SC |
Important: When a deadline falls on a Saturday, Sunday, or public holiday, it rolls forward to the next business day.
The annual VAT return (Dichiarazione IVA) deserves special mention: it is a separate filing from the corporate income tax return, with its own April 30 deadline. For full detail on VAT compliance obligations, see our guide on VAT compliance and reporting in Italy.
The commercialista typically submits all F24 payments on behalf of the SRL. Foreign owners should ensure they have a signed mandate in place well before each deadline — particularly for the June acconto, which often catches first- and second-year SRL owners unprepared.
IRES vs. IRAP: Understanding the Two Corporate Taxes
Both IRES and IRAP appear in the filing calendar — and both follow the same advance payment schedule. Understanding the distinction matters because their bases are calculated differently and they cannot be offset against each other.
| Tax | Rate | Tax Base | Who Pays | Recent Change |
|---|---|---|---|---|
| IRES | 24% flat | Net taxable profit (after TUIR adjustments) | SRL, SPA, cooperatives, branches | Unchanged since 2017; IRES premiale (20%) proposed for reinvesting companies |
| IRAP | 3.9% standard (±0.92% by region) | Net production value (interest not deductible; some labor excluded) | SRL, SPA, branches | Abolished for sole traders and professionals since FY2022 — but SRLs remain liable |
IRES is Italy's national corporate income tax. It applies to net taxable profit after all TUIR adjustments — the same profit figure on which deductions such as depreciation, R&D credits, and the Patent Box operate. The rate of 24% has been unchanged since 2017.
IRAP (Imposta Regionale sulle Attività Produttive) is a regional production tax calculated on a broader base — "net production value." Crucially, interest expense is not deductible for IRAP purposes, making IRAP particularly costly for leveraged structures. The standard rate is 3.9%, but regional variation applies: some southern regions offer temporary reductions; some sectors face higher rates.
A critical and frequently misunderstood point: the 2022 Budget Law abolished IRAP for sole traders and individual professionals, but not for SRLs. Many English-language guides claim IRAP has been "abolished" without this distinction. Foreign-owned Italian SRLs remain fully liable for IRAP.
IRAP cannot be deducted for IRES purposes (D.Lgs. 446/1997). Both taxes are advance-paid on the same June/November schedule.
For practical help calculating both IRES and IRAP bases, Company Italy's accounting services in Italy include full annual preparation.
Documents Your Commercialista Needs to File
Filing the Modello Redditi SC requires more than the IRES calculation. Your commercialista needs a complete package of documents, and many of these depend on prior steps — especially the shareholders' approval of the annual accounts.
Mandatory for all SRLs:
- Bilancio d'esercizio (annual financial statements: balance sheet, profit and loss, nota integrativa) — must be formally approved by the shareholders before the Modello Redditi SC is filed
- Libro giornale (general ledger) and other statutory accounting books, kept current throughout the year
- All F24 payment receipts from the year: acconti, IVA installments, and any withholding tax remittances
- Registro dei beni ammortizzabili (fixed asset register) — required for the depreciation schedule used in IRES calculation
- Board resolutions approving any dividend distributions (triggers WHT compliance documentation)
For foreign-owned SRLs with intercompany transactions:
- Transfer pricing documentation (masterfile + local file) if the SRL paid management fees, royalties, or interest to the foreign parent — required before the return is filed; see our guide on transfer pricing documentation in Italy
- Certificate of tax residence of the foreign shareholder — relevant if WHT treaty relief was claimed on dividend distributions
- Documentation of extraordinary transactions: capital increases, asset transfers, M&A events, or IP contributions during the year
What Happens If You Miss the Deadline: Ravvedimento Operoso
Italy's self-correction mechanism — ravvedimento operoso (D.Lgs. 472/1997) — is one of the most important tools in the Italian compliance toolkit. It allows a taxpayer to correct a missed payment or late filing at a dramatically reduced penalty, provided the correction is made before Agenzia delle Entrate opens a formal audit.
The key principle: the sooner you correct, the lower the penalty.
| Scenario | Tier | Penalty Rate | Notes |
|---|---|---|---|
| Payment within 14 days of deadline | Sprint ravvedimento | 0.1% per day (max 1.4%) | Cheapest option — act immediately |
| 15–30 days late | Breve ravvedimento | 1.5% of unpaid tax | Still far cheaper than the standard penalty |
| 31–90 days late | Medio ravvedimento | 1.67% of unpaid tax | |
| Within the annual return filing date | Lungo ravvedimento | 3.75% of unpaid tax | |
| Within 2 years of violation | Biennale | 4.29% of unpaid tax | |
| After 2 years | Ultra-biennale | 5% | Last opportunity before formal assessment |
| Caught in audit (no self-correction) | Standard penalty | 25% of unpaid tax | Post-D.Lgs. 87/2024 reform (effective September 1, 2024) |
Important: In addition to the penalty percentage, legal interest at 5% per year accrues on the outstanding tax from the original due date. This is separate from the penalty.
Late filing (tardiva dichiarazione): If the Modello Redditi SC is filed late but within 90 days of the November 30 deadline, a reduced penalty applies (approximately 0.1% per day, minimum €250). If the return is not filed at all — omessa dichiarazione — the penalty rises to 120–240% of tax due. This is the most serious compliance failure and requires immediate professional intervention.
One forward-looking tool to eliminate acconto uncertainty: the Concordato Preventivo Biennale (D.Lgs. 13/2024) allows eligible small businesses and ISA-rated taxpayers to agree a fixed taxable income with Agenzia delle Entrate for two years, removing the risk of underpayment on acconti. The 2024–2025 cycle opt-in deadline was October 31, 2024. Watch for the 2026–2027 cycle announcement.
For ongoing compliance for your Italian SRL, see our accounting services in Italy.
FAQ
Q: What is the deadline to file a corporate tax return in Italy?
The Modello Redditi SC must be filed by November 30 of the year following the fiscal year — 11 months after the fiscal year closes. For a December 31 year-end, the filing deadline is November 30 of the following year. The second IRES advance payment (60% of prior-year IRES) falls on the same date.
Q: What is the corporate income tax rate in Italy?
Italian companies (SRL, SPA) pay IRES at 24% on net taxable profit, plus IRAP at the standard rate of 3.9% on net production value (regional variation of ±0.92% applies). The effective combined nominal rate for most Italian SRLs is approximately 27–28%, though incentives such as the Patent Box and R&D credits can reduce the effective IRES rate significantly.
Q: Do foreign-owned Italian SRLs need to file a tax return in Italy?
Yes. An Italian SRL is always an Italian tax resident under Art. 73 TUIR, regardless of where its shareholders reside. It must file the Modello Redditi SC by November 30 and pay IRES and IRAP advance payments in June (40%) and November (60%). This obligation begins from the first year of incorporation.
Q: When are Italian corporate tax advance payments due?
Two installments: the first acconto (40% of prior-year IRES) is due June 30 (extendable to July 31 with a 0.40% surcharge); the second acconto (60%) is due November 30 — the same date as the Modello Redditi SC filing. Both IRES and IRAP follow the same advance payment schedule.
Q: What happens if a company misses the Italian tax return deadline?
If filed within 90 days, a reduced ravvedimento operoso penalty applies — from as low as 0.1% per day (within 14 days) to 3.75% (within the annual return). If the return is not filed at all (omessa dichiarazione), the penalty rises to 120–240% of tax due. Self-correction is always dramatically cheaper than being found in an audit.
Q: What is the Modello Redditi SC and who must file it?
The Modello Redditi SC is Italy's annual corporate income tax return, filed by all entities subject to IRES: SRLs, SpAs, cooperatives, and Italian branches (stabile organizzazioni) of foreign companies. The filing deadline is November 30, eleven months after the fiscal year closes (for a December 31 year-end). Any entity with its registered office, effective management, or principal business activity in Italy for the majority of the year must file — regardless of where its shareholders or directors are resident.
Q: What is the Concordato Preventivo Biennale and should my SRL use it?
The Concordato Preventivo Biennale (D.Lgs. 13/2024) allows eligible small businesses and ISA-rated taxpayers to agree a fixed taxable income with Agenzia delle Entrate for two years — eliminating uncertainty on advance payment (acconto) calculations. If your SRL's actual income exceeds the agreed figure, the excess is not taxed. If income falls below the agreed figure, you still pay the agreed amount. It is most beneficial for companies expecting stable or growing income where underpayment risk on acconti is a concern. The 2024–2025 cycle opt-in deadline was October 31, 2024; the next cycle announcement should be monitored from mid-2026.
Q: How does the IRES advance payment (acconto) system work?
Italian companies must pay IRES in advance based on prior-year liability: 40% by June 30 (extendable to July 31 with a 0.40% surcharge) and 60% by November 30 (same date as the Modello Redditi SC filing). The saldo (balance due) is also calculated and paid on November 30. First-year SRLs generally owe no acconto because there is no prior-year base. From Year 2 onward, the acconto obligation begins — and missing the June 30 first installment is the most common compliance error for second-year foreign-owned SRLs.
Q: What is the Italian annual VAT return and when is it due?
The Dichiarazione IVA (annual VAT return) is due by April 30 each year, covering all VAT transactions of the prior calendar year. It is a separate filing from the Modello Redditi SC. In addition, quarterly LIPE VAT communications (Liquidazione Periodica IVA) must be filed within 60 days of each quarter end. Companies with turnover below €400,000 (services) or €700,000 (goods) may opt for bi-monthly LIPE filings instead. Your commercialista manages all VAT filings — confirm this is explicitly included in your annual retainer.
Q: Is IRAP abolished for Italian SRLs?
No. IRAP (Imposta Regionale sulle Attività Produttive) was abolished only for sole traders and individual professionals by the 2022 Budget Law — Italian SRLs remain fully liable. The standard IRAP rate is 3.9%, with regional variation of ±0.92%. IRAP is calculated on net production value — crucially, interest expense is not deductible for IRAP purposes, making it more costly for leveraged structures than the headline rate suggests. IRAP and IRES follow the same June/November advance payment schedule and are filed via the Modello Redditi SC.
Q: What is the Modello 770 and when is it due?
The Modello 770 is Italy's annual withholding tax return, due by October 31. It must be filed by any company that applied withholding tax (ritenuta d'acconto) to payments made during the prior year — including payments to consultants, royalties to foreign entities, dividends to foreign shareholders, and interest payments. If your SRL paid management fees or dividends to a foreign parent and withheld Italian tax at source, the Modello 770 reports all such withholdings and the recipients. It is distinct from the annual F24 remittances made monthly throughout the year.
How We Can Help
Italy's corporate tax compliance calendar is manageable once mapped — but missing the November 30 Modello Redditi SC or the June 30 primo acconto carries real financial consequences. Late-payment penalties under D.Lgs. 87/2024 stand at 25% of the unpaid amount; a missing return triggers penalties of up to 240% of tax due.
Company Italy's Milan commercialisti handle the full annual filing cycle for foreign-owned SRLs — IRES, IRAP, IVA, Modello 770, and F24 payments — from Day 1 of operations. Our offices in Milan, Rome, and Florence serve clients across Italy.
Contact us for a quote on annual tax compliance for your SRL:
- Milan: +39 02 8088 1240 | Via Monte Napoleone 8, 20121 Milano
- Rome: +39 06 4520 7330 | Via del Corso 184, 00186 Roma
- Florence: +39 055 264 8120 | Via de' Tornabuoni 17, 50123 Firenze
- Email: info@company-italy.com
Explore our accounting services in Italy or read the full Italian corporate tax guide.
This article is for general information only and does not constitute professional tax advice. Italian tax regulations change frequently — always verify with a qualified Italian tax professional. Contact our tax team for a consultation.