The declaration of income is the fiscal and accounting document through which the Italian tax payer has the possibility of declaring his/her income to the Fisco.
The Italian tax system is set up on the basis of the principle of self-determination: for subjects other than employees and pensioners, income is declared to the tax authorities on the basis of their accounting records.
When it comes to tax returns, a distinction must be made according to the type of taxpayer who must report his earnings to the tax authorities:
- for individuals with only income from employment and similar (for example pensions) and agricultural income, the tax return takes the name of model 730;
- for natural persons with capital income, business income, other income and income from self-employment, the tax return takes the name of UNICO PF, in the double version of the UNICO PF model and the UNICO model PF MINI;
- for partnerships the tax return takes the name of model UNICO SP;
- for joint stock companies, the tax return takes the name of model UNICO SC;
- for companies and entities, the tax return takes the name of the UNICO ENC model.
Let’s recap: what is the tax return?
The tax return represents a scientific declaration with which the taxpayer declares his income and the taxes that will be paid (in reality, the system of advances and balances ensures that the taxpayer pays before the actual transmission of the tax return).
The tax return finds its fundamental regulatory reference in the d.p.r. number 600/1973.
However, the breadth of Italian tax legislation means that in order to correctly complete the tax return, the regulatory sources are truly infinite: TUIR, VAT decree, various changes introduced from time to time by the Budget Laws, etc.
