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Final deadline for IMU and TASI Tax for non-commercial entities

As indicated in our Newsflash of February 6, 2015, regarding Municipal Taxes, Civilly Recognized Ecclesiatical Entities which have no commercial activities are exempt from IMU and the other municipal taxes (TASI and TARSI). Such exemptions are not always or automatically recognized by the Municipal Taxing Authorities and, except for the case of IMU, where there already exists abundant case law, it may be necessary to test the law through litigation.

That being said, at least with respect to IMU and TASI, by Ministerial Decree of September 23, 2014, the governement has given non-commercial entities the possibility of filing an affidavit with the tax authorities declaring the entity to be exempt from these taxes. Failure to file the declaration could result in increased sanctions in the case of a tax audit.

The deadline for filing was December 1, 2014 but there is a 90 day grace period to comply by paying a minimal fine, which can be as low as 5 EURO.

This means that there is until March 1, 2015 to file this declaration.

If you have not done so, you should consult your tax consultant or commercialista without delay.