Inspections of large taxpayers detect 700 ME of missing taxes

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The inspections carried out by the tax authorities in 2022 on companies and individuals monitored by the Large Taxpayer Unit led to corrections corresponding to about 700 million euros of missing taxes, according to a report released today.

According to the 2022 report on the fight against tax and customs fraud and evasion, 253 inspection procedures, of general or partial scope, were completed last year on taxable persons monitored by the Large Taxpayer Unit (UCG).

Following the procedures carried out by the UGC inspection area, corrections were identified amounting to around 700 million euros of potentially missing tax,” details the document sent by the government to parliament, as determined by the legislation in force.

Of the corrections made (including voluntary adjustments) more than half (52%) are related to corporate income tax issues, while VAT issues account for about 43%. The remainder are mainly related to Stamp Duty and Personal Income Tax.

Part of these corrections are due to the regime excluding capital losses on the transfer of equity instruments from entities subject to a clearly more favorable tax regime (about 90 million eros), the general anti-abuse clause (25 million euros) or even the transfer pricing regime (20 million euros).

According to the report, in 2022 the UCG tracked a total of 4,818 taxpayers, 105 fewer than the previous year, including 1,602 private individuals (the same number as in 2021) and 3,216 collectives.

For a company or entity to come under the scrutiny of this AT unit it must meet at least one of a list of criteria, namely being under the supervision of the banking, insurance, or markets regulator, having a turnover greater than 200 million euros, or having an overall value of taxes paid greater than 20 million euros.

In addition to these, the CGU also monitors entities that enter into transfer pricing agreements or are related to reporting multinationals under the ‘Country-by-Country Report’.

At the level of private individuals, the UCG’s scope of action includes people with an income of more than 750,000 euros or with a net worth of more than five million euros (directly or indirectly, in assets and direct assets), as well as people with manifestations of wealth consistent with that net worth or income.

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