The rental campaign began with a window to act, and while there is time to finalize and submit by June 30, it is wise to proceed promptly. A late rush increases the risk of forgetfulness, especially if there is a belief that the treasury has been overpaid and a refund is in the cards.
If the income statement is not completed on time and the return is required, penalties can reach up to 20 percent of the amount due. This enforcement may reflect delays in the treasury’s filing process. In any case, a minimum penalty of 5 percent applies. When the tax authorities must refund funds, a fixed penalty of 100 euros is charged.
Beyond these situations, taxpayers may face additional fines for commitments that are miscalculated. Errors in declaring income, resulting in an incorrect payment, failure to provide a Tax Identification Number, or the submission of incomplete or forged documents may trigger penalties.
The most common mistakes in the income statement
Another frequent error occurs with the tax address—the location of the taxpayer, whether the person is an individual or a legal entity. While it might seem trivial, the tax office treats an incorrect address seriously. A fine can be imposed for misreporting the correct address, potentially up to 100 euros.
For this reason, it is prudent to carefully review all tax data, including withholdings and reported income, since this information is used in the income statement. The critical details needed for preparing the statement are accessible through the official Tax Office portal.
If a mistake is discovered after the declaration has been filed, an amended submission must be provided to correct the record. This correction ensures compliance and avoids compounding penalties.