INFORMATION TECHNOLOGY
From the Internal Revenue Service instructions for regularizing crypto-assets.
In Order No. 290480/2023, the Internal Revenue Service regulated the contents of the form, terms and procedures for regularizing crypto-assets and related income.
Subject of regularization.
These are crypto-assets represented by crypto-currencies, including those subject to and/or arising from staking, or otherwise held by the date of December 31, 2021, for which there has been a failure to file in the RW framework or declaration.
In addition, income from the other crypto-assets, other than cryptocurrencies, not reported in the income tax return realized by the date of December 31, 2021, can also be regularized.
The regularization is allowed with respect to tax periods, up to 2021, for which the deadlines for assessment or contestation of the violation of reporting obligations and those for income tax and any additional taxes have not yet expired.
Eligible subjects.
Individuals, noncommercial entities and simple and equivalent companies (art. 5 TUIR) resident in Italy, who by December 31, 2021 owned crypto-assets in violation of tax monitoring obligations and/or omitted to indicate the relevant income in their returns.
How to proceed with regularization.
The taxpayer must indicate the value of cryptocurrencies held in each tax period through the form approved herewith and pay the penalty of 0.5 percent of the relevant amount.
It is also possible to regularize one's position in case of omission in one's return of the indication of income from crypto-assets, including cryptocurrencies, through the submission of the form, indicating the value of crypto-assets held in each tax period and paying the substitute tax in the amount of 3.5% of the value of crypto-assets held at the end of each tax period and/or at the end of the holding period to which the omitted income refers.
Deadline and manner of filing the form.
The application for regularization should be submitted via PEC to the Internal Revenue Service (specifically to the Directorate territorially competent due to the taxpayer's tax domicile related to the last year of taxation affected by the procedure) by November 30, 2023 using exclusively the form (approved by this measure) digitally signed, with attached the receipt of the payment made by means of the F24 form and the accompanying report with the relevant supporting documentation, possibly drawn up according to the template attached to this measure.
If the application is not digitally signed, copies of the identity documents of the signatories of the application must also be attached. Terms and methods of payment
Payment of the amounts due shall be made by means of F24 form.
The payment of the amount to be paid for the regularization of cryptocurrencies shall be made in one lump sum by the date of submission of the application or November 30, 2023.
Subject of regularization.
These are crypto-assets represented by crypto-currencies, including those subject to and/or arising from staking, or otherwise held by the date of December 31, 2021, for which there has been a failure to file in the RW framework or declaration.
In addition, income from the other crypto-assets, other than cryptocurrencies, not reported in the income tax return realized by the date of December 31, 2021, can also be regularized.
The regularization is allowed with respect to tax periods, up to 2021, for which the deadlines for assessment or contestation of the violation of reporting obligations and those for income tax and any additional taxes have not yet expired.
Eligible subjects.
Individuals, noncommercial entities and simple and equivalent companies (art. 5 TUIR) resident in Italy, who by December 31, 2021 owned crypto-assets in violation of tax monitoring obligations and/or omitted to indicate the relevant income in their returns.
How to proceed with regularization.
The taxpayer must indicate the value of cryptocurrencies held in each tax period through the form approved herewith and pay the penalty of 0.5 percent of the relevant amount.
It is also possible to regularize one's position in case of omission in one's return of the indication of income from crypto-assets, including cryptocurrencies, through the submission of the form, indicating the value of crypto-assets held in each tax period and paying the substitute tax in the amount of 3.5% of the value of crypto-assets held at the end of each tax period and/or at the end of the holding period to which the omitted income refers.
Deadline and manner of filing the form.
The application for regularization should be submitted via PEC to the Internal Revenue Service (specifically to the Directorate territorially competent due to the taxpayer's tax domicile related to the last year of taxation affected by the procedure) by November 30, 2023 using exclusively the form (approved by this measure) digitally signed, with attached the receipt of the payment made by means of the F24 form and the accompanying report with the relevant supporting documentation, possibly drawn up according to the template attached to this measure.
If the application is not digitally signed, copies of the identity documents of the signatories of the application must also be attached. Terms and methods of payment
Payment of the amounts due shall be made by means of F24 form.
The payment of the amount to be paid for the regularization of cryptocurrencies shall be made in one lump sum by the date of submission of the application or November 30, 2023.
