Ires increases reported income by 33%. IRAP increased by 16.6%

Data on IRES and IRAP returns (relating to the tax year 2021 and filed during the years 2022 and 2023) have been published, the Ministry of Economy and Finance announced.

Plus 33% of declared income for IRES purposes

in the year Tax 2021 Declarations of joint-stock companies amounted to 1,321,476, an increase compared to the previous year (+3.2%) and also to 2019 (+4.6%). A large portion of joint-stock companies (91%) consists of limited liability companies. 60% of respondents declared business income relevant for tax purposes, 33% declared a loss, and 7% closed the financial year at break-even. Declared tax income, equivalent to 216.7 billion euros, recorded a significant increase (+33% compared to 2020 and +17.7% compared to 2019). In 2021, joint-stock companies declared taxable income of approximately EUR 170 billion (+31.3% compared to 2020 and +14% compared to 2019), of which approximately EUR 116 billion is through the income model and approximately EUR 54 billion is through the consolidated income model. Companies subject to regular taxation declare a net tax of around €27.6 billion (+30.9% compared to 2020 and +23.4% compared to 2019), while corporate groups that have opted for the unified tax system declare a net tax of around 12.9%. EUR 1 billion (+32.1% compared to 2020 and -2% compared to 2019)

IRAP, announced that taxes would rise to $26.2 billion

The number of people who filed an IRAP declaration for the tax year 2021 is 3,333,952 (-0.6% compared to 2020 and -2.7% compared to 2019). The contraction mainly affected natural persons (-3.4% compared to 2020 and -7.7% compared to 2019) and partnerships (-2.8% compared to 2020 and -6.4% compared to 2019). The total tax base amounted to approximately €503 billion (+20.8% compared to 2020 and +7.5% compared to 2019). The declared tax for 2021 amounted to 26.2 billion euros (+16.6% compared to 2020 and +5.8% compared to 2019).