Italy Financial Statements Skill v1.0
General reference only. This skill is general tax/accounting reference material for AI-assisted workflows. It has not been reviewed for any specific person's facts, documents, elections, deadlines, residency, filing status, or local procedures. Do not rely on it to file, pay, amend, or take a tax position without review by a qualified professional in the relevant jurisdiction.
Section 1 -- Quick Reference
| Field |
Value |
| Country |
Italy (Repubblica Italiana) |
| Currency |
EUR |
| Filing authority |
Registro delle Imprese (via Camera di Commercio) |
| Primary legislation |
Codice Civile, Articles 2423–2435-ter |
| Supporting legislation |
D.Lgs. 127/1991 (consolidated); D.Lgs. 39/2010 (audit); D.Lgs. 139/2015 (EU directive transposition) |
| Accounting standards |
OIC (Organismo Italiano di Contabilità) — Italian GAAP |
| Financial year |
Usually calendar year (January–December) |
| Filing deadline |
30 days after shareholder approval |
| Approval deadline |
120 days from year-end (extendable to 180 days) |
| Filing fee |
EUR 62.70 (diritti di segreteria) + EUR 65 (bollo) |
| Digital filing |
XBRL mandatory (tassonomia PCI 2018-11-04) via piattaforma DIRE |
Section 2 -- Reporting Framework
| Entity type |
Applicable standard |
| All companies (individual accounts) |
OIC (Italian GAAP based on Codice Civile) |
| Micro-imprese (Art. 2435-ter) |
Simplified OIC with exemptions |
| Bilancio in forma abbreviata (Art. 2435-bis) |
OIC with reduced disclosures |
| Listed groups (consolidated) |
IFRS as adopted by the EU (mandatory) |
| Non-listed groups (consolidated) |
OIC or IFRS (choice) |
| Banks and financial institutions |
IFRS (mandatory, individual and consolidated) |
Section 3 -- Size Thresholds
Effective for financial years beginning on or after 1 January 2024 (D.Lgs. 125/2024):
| Criterion |
Micro (Art. 2435-ter) |
Abbreviato (Art. 2435-bis) |
Ordinario (Full) |
| Totale attivo (Total assets) |
≤ EUR 220,000 |
≤ EUR 5,000,000 |
> EUR 5,000,000 |
| Ricavi delle vendite (Revenue) |
≤ EUR 440,000 |
≤ EUR 10,000,000 |
> EUR 10,000,000 |
| Dipendenti medi (Employees) |
≤ 5 |
≤ 50 |
> 50 |
Must not exceed 2 out of 3 thresholds in the first financial year, or for two consecutive financial years thereafter.
Section 4 -- Required Financial Statements
| Document |
Micro |
Abbreviato |
Ordinario |
| Stato Patrimoniale (Balance sheet) |
Required (simplified) |
Required (abridged) |
Required (full) |
| Conto Economico (P&L) |
Required (simplified) |
Required (abridged) |
Required (full) |
| Rendiconto Finanziario (Cash flow statement) |
Not required |
Not required |
Required |
| Nota Integrativa (Notes) |
Not required |
Required (reduced) |
Required (full) |
| Relazione sulla gestione (Management report) |
Not required |
Not required (with conditions) |
Required |
| Relazione del revisore (Audit report) |
If appointed |
If appointed |
Required |
Section 5 -- Year-End Adjustments Checklist
| # |
Adjustment |
Italy-specific notes |
| 1 |
Ammortamenti (Depreciation) |
OIC 16; systematic plan; fiscal rates (DM 1988 coefficients) commonly used |
| 2 |
TFR (Trattamento di fine rapporto) |
Mandatory employee severance provision (Art. 2120 CC); actuarial valuation |
| 3 |
Fondi rischi e oneri (Provisions) |
OIC 31; probable, reliably estimable |
| 4 |
Ratei e risconti (Accruals/prepayments) |
OIC 18; strict time-proportion basis |
| 5 |
Svalutazione crediti (Bad debts) |
OIC 15; specific + portfolio-based allowance |
| 6 |
Rimanenze (Inventory) |
OIC 13; lower of cost (FIFO/LIFO/weighted average) and realisable value |
| 7 |
Imposte differite (Deferred tax) |
OIC 25; temporary differences; IRES 24% + IRAP 3.9% |
| 8 |
Operazioni in valuta estera (FX) |
OIC 26; monetary items at closing rate; unrealised gains to reserve |
| 9 |
Leasing (locazione finanziaria) |
OIC: off-balance sheet (operating method) — unlike IFRS 16 |
| 10 |
Rivalutazioni (Revaluations) |
Only if permitted by specific law (legge di rivalutazione) |
| 11 |
Contributi pubblici (Government grants) |
OIC 16 (assets) / OIC 12 (income); systematic recognition |
| 12 |
Lavori in corso su ordinazione (Construction) |
OIC 23; percentage-of-completion or completed-contract |
Section 6 -- Conto Economico Format (P&L)
Art. 2425 Codice Civile — classification by nature:
A) VALORE DELLA PRODUZIONE (Value of production)
1) Ricavi delle vendite e prestazioni
2) Variazione rimanenze prodotti in lavorazione, semilavorati, finiti
3) Variazione lavori in corso su ordinazione
4) Incrementi di immobilizzazioni per lavori interni
5) Altri ricavi e proventi
B) COSTI DELLA PRODUZIONE (Cost of production)
6) Materie prime, sussidiarie, di consumo e merci
7) Per servizi
8) Per godimento beni di terzi
9) Per il personale
a) Salari e stipendi
b) Oneri sociali
c) Trattamento di fine rapporto
d) Trattamento quiescenza e simili
e) Altri costi
10) Ammortamenti e svalutazioni
a) Ammortamento immobilizzazioni immateriali
b) Ammortamento immobilizzazioni materiali
c) Altre svalutazioni delle immobilizzazioni
d) Svalutazione crediti
11) Variazione rimanenze materie prime
12) Accantonamenti per rischi
13) Altri accantonamenti
14) Oneri diversi di gestione
DIFFERENZA (A - B)
C) PROVENTI E ONERI FINANZIARI (Financial income/expenses)
15) Proventi da partecipazioni
16) Altri proventi finanziari
17) Interessi e altri oneri finanziari
17-bis) Utili e perdite su cambi
D) RETTIFICHE DI VALORE DI ATTIVITÀ FINANZIARIE
18) Rivalutazioni
19) Svalutazioni
RISULTATO PRIMA DELLE IMPOSTE
20) Imposte sul reddito dell'esercizio (correnti, differite, anticipate)
21) UTILE (PERDITA) DELL'ESERCIZIO
Section 7 -- Stato Patrimoniale Format (Balance Sheet)
Art. 2424 Codice Civile:
ATTIVO (Assets)
A) Crediti verso soci per versamenti ancora dovuti
B) Immobilizzazioni (Fixed assets)
I. Immobilizzazioni immateriali
II. Immobilizzazioni materiali
III. Immobilizzazioni finanziarie
C) Attivo circolante (Current assets)
I. Rimanenze
II. Crediti
III. Attività finanziarie (non immobilizzazioni)
IV. Disponibilità liquide
D) Ratei e risconti attivi
─────────────────────────────────────
PASSIVO (Equity and Liabilities)
A) Patrimonio netto (Equity)
I. Capitale sociale
II. Riserva da sovrapprezzo azioni
III. Riserve di rivalutazione
IV. Riserva legale
V. Riserve statutarie
VI. Altre riserve
VII. Riserva per operazioni di copertura
VIII. Utili (perdite) portati a nuovo
IX. Utile (perdita) dell'esercizio
B) Fondi per rischi e oneri (Provisions)
C) Trattamento di fine rapporto di lavoro subordinato (TFR)
D) Debiti (Liabilities)
E) Ratei e risconti passivi
Section 8 -- Nota Integrativa (Notes to Accounts)
| # |
Disclosure |
Micro |
Abbreviato |
Ordinario |
| 1 |
Accounting policies (criteri di valutazione) |
Exempt |
Required |
Required |
| 2 |
Fixed asset movements |
Exempt |
Simplified |
Required |
| 3 |
Receivables/payables by maturity |
Exempt |
Required |
Required |
| 4 |
Related party transactions |
Exempt |
If material |
Required |
| 5 |
Commitments and guarantees |
Exempt |
Required |
Required |
| 6 |
Employee numbers |
Exempt |
Average |
By category |
| 7 |
Directors' and auditors' remuneration |
Exempt |
Required |
Required |
| 8 |
Financial instruments (fair value) |
Exempt |
Simplified |
Required |
| 9 |
Deferred tax breakdown |
Exempt |
Required |
Required |
| 10 |
Revenue by activity/geography |
Exempt |
Not required |
Required |
| 11 |
Intercompany transactions |
Exempt |
If material |
Required |
| 12 |
Share capital and equity movements |
Exempt |
Required |
Required |
Section 9 -- Filing Requirements
| Item |
Detail |
| Filing authority |
Registro delle Imprese (via Camera di Commercio locale) |
| Filing method |
Online via piattaforma DIRE (digitally signed) |
| Format |
XBRL (tassonomia PCI 2018-11-04) for financial statements; PDF/A for other documents |
| Approval deadline |
120 days from year-end (standard); 180 days (if statutory extension applies) |
| Filing deadline |
30 days after shareholder approval |
| Effective latest filing |
30 May (120 days) or 30 July (180 days) for calendar-year companies |
| Filing fee |
EUR 62.70 (segreteria) + EUR 65.00 (bollo) = EUR 127.70 approx. |
| Late filing penalty |
Administrative fine EUR 274.66 to EUR 549.33 (per Art. 2630 CC) |
| Language |
Italian |
| Double format |
XBRL + PDF/A if XBRL taxonomy cannot adequately represent the company's situation |
Section 10 -- Audit Requirements
Mandatory appointment of revisore legale or società di revisione
For S.r.l. (Art. 2477 CC), statutory audit is mandatory if the company exceeds any one of the following thresholds for two consecutive financial years:
| Criterion |
Threshold |
| Totale attivo (Total assets) |
EUR 4,000,000 |
| Ricavi (Revenue) |
EUR 4,000,000 |
| Dipendenti medi (Average employees) |
20 |
The obligation ceases if none of the thresholds are exceeded for three consecutive years.
Other mandatory cases
- S.p.A.: audit always mandatory (Art. 2409-bis CC)
- S.r.l. preparing consolidated accounts: audit mandatory
- S.r.l. controlling a company subject to audit: audit mandatory
- Public interest entities: full audit with additional oversight
Auditor qualification
Revisore legale iscritto nel Registro dei Revisori Legali (MEF) or società di revisione registered with the same registry.
Disclaimer
This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this skill. All outputs must be reviewed and signed off by a qualified professional before filing or acting upon.
Source: OpenAccountants — open tax Guides for AI, reviewed by named CPAs/CAs/EAs. Quality: source-cited draft. For always-current figures and named-accountant backing, connect the OpenAccountants MCP server (openaccountants-mcp).
1---2name: italy-financial-statements3description: > Use this skill when preparing, reviewing, or advising on annual financial statements (bilancio d'esercizio) for an Italian company. Trigger on phrases like "bilancio", "deposito bilancio", "Camera di Commercio", "Registro delle Imprese", "XBRL Italy", "codice civile 2423", "bilancio abbreviato", "micro imprese", "OIC", "revisione legale", "collegio sindacale", "nota integrativa", or any question about preparing and filing statutory accounts under Italian civil code. Covers OIC standards, size thresholds, required statements, formats, notes, filing deadlines, and audit requirements.4license: AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (c5---67# Italy Financial Statements Skill v1.089> **General reference only.** This skill is general tax/accounting reference material for AI-assisted workflows. It has not been reviewed for any specific person's facts, documents, elections, deadlines, residency, filing status, or local procedures. Do not rely on it to file, pay, amend, or take a tax position without review by a qualified professional in the relevant jurisdiction.1011---1213## Section 1 -- Quick Reference1415| Field | Value |16|---|---|17| Country | Italy (Repubblica Italiana) |18| Currency | EUR |19| Filing authority | Registro delle Imprese (via Camera di Commercio) |20| Primary legislation | Codice Civile, Articles 2423–2435-ter |21| Supporting legislation | D.Lgs. 127/1991 (consolidated); D.Lgs. 39/2010 (audit); D.Lgs. 139/2015 (EU directive transposition) |22| Accounting standards | OIC (Organismo Italiano di Contabilità) — Italian GAAP |23| Financial year | Usually calendar year (January–December) |24| Filing deadline | 30 days after shareholder approval |25| Approval deadline | 120 days from year-end (extendable to 180 days) |26| Filing fee | EUR 62.70 (diritti di segreteria) + EUR 65 (bollo) |27| Digital filing | XBRL mandatory (tassonomia PCI 2018-11-04) via piattaforma DIRE |2829---3031## Section 2 -- Reporting Framework3233| Entity type | Applicable standard |34|---|---|35| All companies (individual accounts) | OIC (Italian GAAP based on Codice Civile) |36| Micro-imprese (Art. 2435-ter) | Simplified OIC with exemptions |37| Bilancio in forma abbreviata (Art. 2435-bis) | OIC with reduced disclosures |38| Listed groups (consolidated) | IFRS as adopted by the EU (mandatory) |39| Non-listed groups (consolidated) | OIC or IFRS (choice) |40| Banks and financial institutions | IFRS (mandatory, individual and consolidated) |4142---4344## Section 3 -- Size Thresholds4546Effective for financial years beginning on or after 1 January 2024 (D.Lgs. 125/2024):4748| Criterion | Micro (Art. 2435-ter) | Abbreviato (Art. 2435-bis) | Ordinario (Full) |49|---|---|---|---|50| Totale attivo (Total assets) | ≤ EUR 220,000 | ≤ EUR 5,000,000 | > EUR 5,000,000 |51| Ricavi delle vendite (Revenue) | ≤ EUR 440,000 | ≤ EUR 10,000,000 | > EUR 10,000,000 |52| Dipendenti medi (Employees) | ≤ 5 | ≤ 50 | > 50 |5354Must not exceed **2 out of 3** thresholds in the first financial year, or for **two consecutive** financial years thereafter.5556---5758## Section 4 -- Required Financial Statements5960| Document | Micro | Abbreviato | Ordinario |61|---|---|---|---|62| Stato Patrimoniale (Balance sheet) | Required (simplified) | Required (abridged) | Required (full) |63| Conto Economico (P&L) | Required (simplified) | Required (abridged) | Required (full) |64| Rendiconto Finanziario (Cash flow statement) | Not required | Not required | Required |65| Nota Integrativa (Notes) | Not required | Required (reduced) | Required (full) |66| Relazione sulla gestione (Management report) | Not required | Not required (with conditions) | Required |67| Relazione del revisore (Audit report) | If appointed | If appointed | Required |6869---7071## Section 5 -- Year-End Adjustments Checklist7273| # | Adjustment | Italy-specific notes |74|---|---|---|75| 1 | Ammortamenti (Depreciation) | OIC 16; systematic plan; fiscal rates (DM 1988 coefficients) commonly used |76| 2 | TFR (Trattamento di fine rapporto) | Mandatory employee severance provision (Art. 2120 CC); actuarial valuation |77| 3 | Fondi rischi e oneri (Provisions) | OIC 31; probable, reliably estimable |78| 4 | Ratei e risconti (Accruals/prepayments) | OIC 18; strict time-proportion basis |79| 5 | Svalutazione crediti (Bad debts) | OIC 15; specific + portfolio-based allowance |80| 6 | Rimanenze (Inventory) | OIC 13; lower of cost (FIFO/LIFO/weighted average) and realisable value |81| 7 | Imposte differite (Deferred tax) | OIC 25; temporary differences; IRES 24% + IRAP 3.9% |82| 8 | Operazioni in valuta estera (FX) | OIC 26; monetary items at closing rate; unrealised gains to reserve |83| 9 | Leasing (locazione finanziaria) | OIC: off-balance sheet (operating method) — unlike IFRS 16 |84| 10 | Rivalutazioni (Revaluations) | Only if permitted by specific law (legge di rivalutazione) |85| 11 | Contributi pubblici (Government grants) | OIC 16 (assets) / OIC 12 (income); systematic recognition |86| 12 | Lavori in corso su ordinazione (Construction) | OIC 23; percentage-of-completion or completed-contract |8788---8990## Section 6 -- Conto Economico Format (P&L)9192Art. 2425 Codice Civile — classification by nature:9394```95A) VALORE DELLA PRODUZIONE (Value of production)96 1) Ricavi delle vendite e prestazioni97 2) Variazione rimanenze prodotti in lavorazione, semilavorati, finiti98 3) Variazione lavori in corso su ordinazione99 4) Incrementi di immobilizzazioni per lavori interni100 5) Altri ricavi e proventi101102B) COSTI DELLA PRODUZIONE (Cost of production)103 6) Materie prime, sussidiarie, di consumo e merci104 7) Per servizi105 8) Per godimento beni di terzi106 9) Per il personale107 a) Salari e stipendi108 b) Oneri sociali109 c) Trattamento di fine rapporto110 d) Trattamento quiescenza e simili111 e) Altri costi112 10) Ammortamenti e svalutazioni113 a) Ammortamento immobilizzazioni immateriali114 b) Ammortamento immobilizzazioni materiali115 c) Altre svalutazioni delle immobilizzazioni116 d) Svalutazione crediti117 11) Variazione rimanenze materie prime118 12) Accantonamenti per rischi119 13) Altri accantonamenti120 14) Oneri diversi di gestione121122 DIFFERENZA (A - B)123124C) PROVENTI E ONERI FINANZIARI (Financial income/expenses)125 15) Proventi da partecipazioni126 16) Altri proventi finanziari127 17) Interessi e altri oneri finanziari128 17-bis) Utili e perdite su cambi129130D) RETTIFICHE DI VALORE DI ATTIVITÀ FINANZIARIE131 18) Rivalutazioni132 19) Svalutazioni133134 RISULTATO PRIMA DELLE IMPOSTE135 20) Imposte sul reddito dell'esercizio (correnti, differite, anticipate)136 21) UTILE (PERDITA) DELL'ESERCIZIO137```138139---140141## Section 7 -- Stato Patrimoniale Format (Balance Sheet)142143Art. 2424 Codice Civile:144145```146ATTIVO (Assets)147148A) Crediti verso soci per versamenti ancora dovuti149150B) Immobilizzazioni (Fixed assets)151 I. Immobilizzazioni immateriali152 II. Immobilizzazioni materiali153 III. Immobilizzazioni finanziarie154155C) Attivo circolante (Current assets)156 I. Rimanenze157 II. Crediti158 III. Attività finanziarie (non immobilizzazioni)159 IV. Disponibilità liquide160161D) Ratei e risconti attivi162163─────────────────────────────────────164165PASSIVO (Equity and Liabilities)166167A) Patrimonio netto (Equity)168 I. Capitale sociale169 II. Riserva da sovrapprezzo azioni170 III. Riserve di rivalutazione171 IV. Riserva legale172 V. Riserve statutarie173 VI. Altre riserve174 VII. Riserva per operazioni di copertura175 VIII. Utili (perdite) portati a nuovo176 IX. Utile (perdita) dell'esercizio177178B) Fondi per rischi e oneri (Provisions)179180C) Trattamento di fine rapporto di lavoro subordinato (TFR)181182D) Debiti (Liabilities)183184E) Ratei e risconti passivi185```186187---188189## Section 8 -- Nota Integrativa (Notes to Accounts)190191| # | Disclosure | Micro | Abbreviato | Ordinario |192|---|---|---|---|---|193| 1 | Accounting policies (criteri di valutazione) | Exempt | Required | Required |194| 2 | Fixed asset movements | Exempt | Simplified | Required |195| 3 | Receivables/payables by maturity | Exempt | Required | Required |196| 4 | Related party transactions | Exempt | If material | Required |197| 5 | Commitments and guarantees | Exempt | Required | Required |198| 6 | Employee numbers | Exempt | Average | By category |199| 7 | Directors' and auditors' remuneration | Exempt | Required | Required |200| 8 | Financial instruments (fair value) | Exempt | Simplified | Required |201| 9 | Deferred tax breakdown | Exempt | Required | Required |202| 10 | Revenue by activity/geography | Exempt | Not required | Required |203| 11 | Intercompany transactions | Exempt | If material | Required |204| 12 | Share capital and equity movements | Exempt | Required | Required |205206---207208## Section 9 -- Filing Requirements209210| Item | Detail |211|---|---|212| Filing authority | Registro delle Imprese (via Camera di Commercio locale) |213| Filing method | Online via piattaforma DIRE (digitally signed) |214| Format | XBRL (tassonomia PCI 2018-11-04) for financial statements; PDF/A for other documents |215| Approval deadline | 120 days from year-end (standard); 180 days (if statutory extension applies) |216| Filing deadline | 30 days after shareholder approval |217| Effective latest filing | 30 May (120 days) or 30 July (180 days) for calendar-year companies |218| Filing fee | EUR 62.70 (segreteria) + EUR 65.00 (bollo) = EUR 127.70 approx. |219| Late filing penalty | Administrative fine EUR 274.66 to EUR 549.33 (per Art. 2630 CC) |220| Language | Italian |221| Double format | XBRL + PDF/A if XBRL taxonomy cannot adequately represent the company's situation |222223---224225## Section 10 -- Audit Requirements226227### Mandatory appointment of revisore legale or società di revisione228229For S.r.l. (Art. 2477 CC), statutory audit is mandatory if the company exceeds **any one** of the following thresholds for **two consecutive** financial years:230231| Criterion | Threshold |232|---|---|233| Totale attivo (Total assets) | EUR 4,000,000 |234| Ricavi (Revenue) | EUR 4,000,000 |235| Dipendenti medi (Average employees) | 20 |236237The obligation ceases if none of the thresholds are exceeded for **three consecutive** years.238239### Other mandatory cases240241- S.p.A.: audit always mandatory (Art. 2409-bis CC)242- S.r.l. preparing consolidated accounts: audit mandatory243- S.r.l. controlling a company subject to audit: audit mandatory244- Public interest entities: full audit with additional oversight245246### Auditor qualification247248Revisore legale iscritto nel Registro dei Revisori Legali (MEF) or società di revisione registered with the same registry.249250---251252## Disclaimer253254This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this skill. All outputs must be reviewed and signed off by a qualified professional before filing or acting upon.255256---257258_Source: [OpenAccountants](https://openaccountants.com/skills/italy-financial-statements) — open tax Guides for AI, reviewed by named CPAs/CAs/EAs. Quality: **source-cited draft**. For always-current figures and named-accountant backing, connect the OpenAccountants MCP server (`openaccountants-mcp`)._
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