![]() A practical Dictionary of Tax Terminology ![]() - D -DEBITO D’IMPOSTA - TAX DEBTSum that the taxpayer is obliged to pay when the conditions set by tax law occur.Sometimes it is determined as a fixed amount but more often it is calculated by applying the tax rate to the taxable base. DECADENZA - LAPSELoss of the right because it was not exercised within a certain deadline.In the tax field, limitation terms are frequent, such as for example for the proposition of an appeal to the Tax Commissions or in order to avail oneself of concessions, such as voluntary correction of tax return, acceptance, and composition. DEDUZIONE PER ABITAZIONE PRINCIPALE - DEDUCTION FOR MAIN RESIDENCEThe possibility to subtract from the aggregate income the amount corresponding to the value of the main residence and of its outbuildings. With this deduction the first house is thus made practically exempt from Irpef.The deduction is also within the taxpayer’s right when the building represents the main residence only of his/her family members. It is granted only for one building unit, therefore if the taxpayer possesses two buildings, one intended for his/her own main residence and one used by a family member, the deduction is granted exclusively for the income of the building used personally by the taxpayer. The deduction is also due when the habitual residence is transferred following the permanent admission to a hospital or other health institution, as long as the building unit is not rented. DEDUZIONI - DEDUCTIBLE EXPENSESExpenses that, by law, can be deducted from the aggregate income (see also deductions).The main deductible expenses are: social and insurance contributions paid in compliance with legislative dispositions, periodic cheques paid to a legally separated spouse, spontaneous donations in favour of religious institutions, medical expenses and specific assistance expenses for disabled people, etc. Deductibility is granted on condition that the expenses are paid by the taxpayer and have remained his/her responsibility for the entire tax period. DEDUZIONI - DEDUCTIONSExpenses that can be subtracted from the aggregate income, with an advantage related to the marginal rate reached by the taxpayer. They differ way from detractions, which lower the tax due.Expenses that can be deducted from the income are:
DETRAZIONI - DETRACTIONSConcessions consisting in the possibility of subtracting certain sums from the gross tax. In particular, detractions are due to taxpayers who have dependant family members or who possess income deriving from subordinate work or pension, self-employed or freelance work or small businesses. The following items also give the right to tax detraction, to the fixed amount of 19%:
DICHIARANTE - DECLARANTThe person who presents the income tax return.DICHIARAZIONE CONGIUNTA - JOINT TAX RETURNPossibility allowed to married couples who submit the income tax return by using the 730 form to complete only one tax return when certain conditions occur.DICHIARAZIONE CORRETTIVA (entro i termini) - CORRECTIVE TAX RETURN (WITHIN THE DEADLINES)Tax return rectifying the Modello unico form previously submitted, which can be transmitted by taxpayers who realise that they have omitted to declare some sources of income or some detractable or deductible expenses (provided this is done within the deadline for submitting the tax return).On the form the specific box ‘Correction within the deadlines’ must be ticked. If the new calculations of the corrective tax return result in a higher tax or a lower credit, the taxpayer must pay the due sums within the deadlines established. If the result is a higher credit or a lower tax, he can opt to request a reimbursement or to carry it over as credit for the following year, or he can use it in compensation(see also Supplementary Declaration). DICHIARAZIONE DEI REDDITI - INCOME TAX RETURNThe document with which the taxpayer states his/her income.The tax return must be submitted by all individuals who registered an income the previous year (entrepreneurs and those practising a craft or profession must submit it even if they did not receive any income), by using the forms provided every year by the Revenue Agency. The forms vary depending on whether the tax return concerns natural persons, partnerships or corporations. For natural persons, the form to be used can be the standard tax return form or – if the declarant is an employee or pensioner – the 730 form. DICHIARAZIONE DEI REDDITI (con il modello 730) - INCOME TAX RETURN (WITH THE 730 FORM)Simplified form of tax return that employees, persons working with CO.CO.CO contracts and pensioners can submit to their employer or pension trust or to one of the specific Fiscal Assistance Centres (CAF) formed by the trade unions or employers.All the necessary documentation must be submitted to the CAF - which can also complete the tax return in exchange for a payment. This obligation exists even if the tax return submitted to the CAF is already completed. The addresses of the regional CAF are available on the website of the Revenue Agency (www.agenziaentrate.it). The use of the 730 form has considerable advantages:
From 2014, the 730 form can also be used by taxpayers, employees and assimilated, without a withholding agent required to effect the balance (excluding some income assimilated to those of employees, such as the allowance received by members of the European Parliament). In this case, refund is paid directly by the Revenue Agency. DICHIARAZIONE DEI REDDITI (CON IL MODELLO UNICO) TAX RETURN (WITH THE MODELLO UNICO FORM)Standard form of tax return that includes, as well as the tax return, the annual declaration of VAT taxpayers and the Italian Regional Tax on Productive Activities (Irap) declaration.For methods of presentation, see the entry submission of the income tax return (Modello Unico Form). DICHIARAZIONE DEI SOSTITUTI D’IMPOSTA - WITHHOLDING AGENTS’ TAX RETURNTax return with which the employer communicates the overall amount of the payments and of other sums made to his/her employees and to the independent collaborators who have carried out activities for the company, as well as the amount of the substitute taxes and of the withholding taxes made on different incomes and on capital gains (see also 770 Form).DICHIARAZIONE ICI - ICI DECLARATIONThe declaration that the taxpayer, within the deadline for submitting his/her tax return, must submit to the Municipality where the buildings he/she owns are located, and for which variations during the previous year occurred. It must be submitted directly to the Municipality or sent by registered post without receipt of delivery to the council tax office.DICHIARAZIONE TRAMITE INTERMEDIARIO - INCOME TAX RETURN THROUGH AN INTERMEDIARYTax return using the Modello Unico form, submitted through certified public accountants, CAF and other professionally qualified individuals.If the tax return has been prepared by the taxpayer, the intermediary responsible for its Internet submission must issue:
(see also Internet tax return submission). DIFENSORI ABILITATI - QUALIFIED LEGAL COUNSELIndividuals – generally listed in professional registers – who can represent and defend the taxpayer before the tax commissions.In tax trials the assistance of a qualified legal counsel is compulsory when the value of the dispute is higher than euro 2,582.28; the “value” is the amount of tax, net of the interest and possible sanctions (if there are only sanctions, the value is given by the sum of these). The category of qualified legal counsels includes, if they are listed in the respective professional registers, the following professionals:
To individuals with a low income, recognised as such by a specific Commission established at every Tax Commission, free assistance is guaranteed. DIRITTI DEL CONTRIBUENTE - RIGHTS OF THE TAXPAYERPrerogatives recognised by the Taxpayer’s StatuteDIRITTO DI ABITAZIONE - RIGHT OF RESIDENCEProperty right on the house intended for family residence and on its outbuildings to which the separated partner, in fact or by law, and the members of his/her family, are entitled.The assignee who has been assigned accommodation in a public residential building, on the basis of an agreement of future sale or leasing, is also entitled. The holder of the right of residence must pay the Ici and declare the income of the building as part of Irpef. DIRITTO DI INTERPELLO - RIGHT OF QUESTIONING(see: Questioning).DOCUMENTO DI TRASPORTO - TRANSPORT DOCUMENTDocument that following the abolition of the waybill must be issued in the following cases:
DOMICILIO FISCALE - TAX DOMICILE (MUNICIPALITY OF)For natural persons, the municipality where they are listed in the municipal register. For subjects other than individuals, the municipality where their legal office is based or, in the absence of this, their administrative office.For non-resident individuals, the municipality where they have produced their income or highest income; for other non-resident subjects, the municipality in which they have established a secondary office or branch or some form of stable organisation and, in the absence of any of these, the municipality where they mainly carry out their business. The transfer of residence, just as the transfer of legal offices, to a different municipality, automatically entails the transfer of the tax domicile, with effect from the sixtieth day. When certain circumstances occur, the transfer of the tax domicile can also occur on the Revenue Agency’s initiative or at the subject’s request. DOPPIA IMPOSIZIONE - DOUBLE TAXATIONThis occurs when the same income is taxed twice.Tax legislation states that this is prohibited, even when it occurs with regard to various subjects under the same conditions. Double taxation, which normally happens in international relations, is eliminated by national laws (such as, for example, the granting of a tax credit) and by specific international agreements for the avoidance of double taxation. DRENAGGIO FISCALE - FISCAL DRAGThe increase in fiscal pressure due to inflation, even when there is no increase in real income or in rates.Fiscal drag can be neutralized by adjusting the value of deductions and tax bands to the dynamics of inflation. DIVIDENDI - DIVIDENDSShares of profit distributed to shareholders of joint stock companies and partnerships limited by shares.Dividends are subject to deductions at source or to withholding tax. In some cases they also give right to a tax credit. DIVIDEND WASHINGTransfer transactions of shares ‘profit included’, which allow to receive dividends on which the taxes have been lifted and to deduct capital losses incurred from sales.AVVERTENZE D'UTILIZZO: Il presente glossario contiene una definizione dei termini più utilizzati in ambito fiscale in Italia, tradotti e spiegati in inglese dall'Agenzia delle Entrate. La spiegazione di ciascuno dei termini indicati in questo glossario è di carattere meramente orientativo e priva di valore legale; si raccomanda, quindi, di tenere conto del contesto e dell'evento in cui essi vanno applicati, in quanto il significato loro attribuito potrebbe differire rispetto a quello qui rappresentato. AVVERTENZE LEGALI - Il contenuto del sito web "www.dottoricommercialistilondra.com" è di carattere puramente divulgativo e, pertanto, non costituisce offerta diretta al pubblico e non intende in alcun modo favorire reati fiscali, riciclaggio di denaro, esportazione di capitali, terrorismo ed altri illeciti. Nessuno dei nostri servizi è svolto direttamente in Italia; su richiesta, è possibile unicamente il contatto con professionisti regolarmente abilitati, nostri referenti, dietro rilascio di fattura e regolare pagamento anticipato. La navigazione di questo sito web è subordinata alla conoscenza e piena accettazione delle nostre condizioni di erogazione dei servizi e dell'informativa sul trattamento dei dati. |