With the coming of May, the payment of the first instalment of IMI is also approaching.
What is the deadline for the payment?
As in the past, this year you can also pay the Municipal Tax (IMI) in instalments if the amount is equal to or greater than 100€
According to article 120, number 1 of the IMI Code, the deadlines for payment of IMI are the following:
- Up to 100€ – Single instalment paid in May;
- Between 100 and 500€: Two instalments made in May and November
- Above 500€: Three instalments paid in May, August and November.
What happens if you don’t pay the IMI on time?
According to article 121 of the CIMI, late payment of the Municipal Tax implies the payment of interest for late payment, so it is very important to remember to pay it within the deadline defined by law.
It is also subject to the payment of a fine since the lack or delay of tax declarations is considered a tax offence, as stated in article 116 of the General Regime of Tax Offences.
Should you have any questions about this or any related matters, please do not hesitate to contact us.