Balance of the substitute tax on severance pay (TFR) for 2023 and management of any credit to be offset on the F-24 form
- giorgiafrisenda
- February 2, 2024
- Reading time: 2 min
News Flash No. 5/2024
Due to the significant reduction in the revaluation rate for severance pay (which was close to 10% last year but has fallen significantly this year to 1.944162%), the calculation of the substitute tax balance generated a credit, due to the fact that the advance payment was commensurate with the rate of 9.9745%, in force on December 31, 2022, while the balance was calculated using the rate in force on December 31, 2023.
As a result of the reduction in the rate of revaluation of severance pay, the amount that companies paid by December 18, 2023, was in fact higher than the total amount due for 2023, with the corresponding creation of a credit.