The annual tax on company books is one of the tax obligations that limited companies must fulfil each year. It is a government licence fee relating to the numbering and stamping of the company’s statutory books, which are essential documents for the proper administrative management of the company.
In Italian company law, limited companies constitute a fundamental type of business, characterised by the fact that the central element of the corporate structure is the capital contributed by the shareholders.
Unlike partnerships, in companies the liability of the shareholders is limited to the capital they have contributed. This means that, generally speaking, the company itself is solely liable for its debts with its own assets, whilst the shareholders’ personal assets remain separate.
These companies have legal personality and assets that are separate from those of their shareholders. It is precisely for this reason that the law imposes a series of more structured administrative and accounting obligations, including the keeping of company accounts and the payment of the relevant annual tax
Entities liable for payment
The annual tax on company registers is primarily payable by limited companies, including:
- Limited liability company (S.r.l.)
- Public limited company (S.p.A.)
- Limited partnership with a share capital (S.a.p.a.)
- Consortium companies incorporated as limited companies
However, sole traders and partnerships (such as S.n.c. and S.a.s.) are not subject to this requirement, as the legislation provides for different procedures for the management of these records.
The proper maintenance and retention of these records is essential both for administrative purposes and in the event of tax or company audits.
Amount of the tax
The amount of the annual tax does not depend on the number of company books held by the company, but is determined on the basis of the amount of share capital as at 1 January of the relevant year.
Specifically:
• €309,87 if the share capital does not exceed €516,456.90
• €516.46 if the share capital exceeds €516,456.90
It is therefore a fixed annual amount, payable regardless of whether the books are actually used during the year.
Payment deadline and methods
The tax must be paid by 16 March each year.
Payment is made using form F24, quoting tax code 7085.
For newly incorporated companies, the tax must be paid before submitting the declaration of commencement of business for tax purposes.
Penalties for non-payment
Failure to pay the tax, or late payment, may result in the imposition of administrative penalties and interest. However, if payment is not made by the due date, it is possible to regularise one’s position through voluntary disclosure, thereby benefiting from a reduction in penalties.
What are company accounts?
Company registers are mandatory records in which the decisions and activities of the company’s governing bodies are recorded. They are an essential tool for ensuring transparency and traceability in the running of the company.
The main company registers required by law include:
- Register of Members;
- The register of members’ resolutions;
- The register of directors’ resolutions;
- The register of resolutions of the board of statutory auditors, if any;
- The register of debentures, where the company has issued securities.
It should be noted, however, that the register of members is now mandatory only for public limited companies (S.p.A.). For private limited companies (S.r.l.), this requirement was abolished following the legislative amendments introduced by Decree-Law 185/2008, which was converted into Law 2/2009.
Following this reform, for limited liability companies (S.r.l.), information regarding shareholders and shareholdings is now recorded in the entries made with the Companies Register, which has therefore taken on the role of a public register, replacing the shareholders’ register.
Studio Carone remains at your disposal should you require any further clarification.