You might have returned from Italy where you worked during the past year. You might have heard that there is an option to receive some taxes back from Italy. Let us clarify what the options are.
While it's true that you might be eligible for some tax overpayment in Italy, it's not as easy as it might sound. There are several key factors that affect the outcome of your tax return. These are mainly:
Keep in mind that in general you have the obligation to monitor your taxes in Italy. So even though you are not interested in receiving a tax refund, it is still a good idea to double check if your employer is deducting the right amount of taxes from your paycheck: the tax office in Italy might find out about the missing tax and fine you.
When you decide to submit a tax return, be prepared for a long wait for the tax office to process it. If you manage to submit the tax return by the end of June (valid only if you are submitting the tax return for the most recent year), you can expect the process to take several months. The maximum should be 8 months..
If you, nevertheless, miss the deadline you can still submit your tax return but the processing time can increase to years. On average the processing takes 2 years.
Italy is a nice country to work in, but when it comes to taxes it can be hard to navigate.
With our guidance you can be assured everything will be done correctly. www.NeoTax.eu