The special voluntary correction procedure renewed by the Omnibus Decree only for those who renew the CPB

Article 29 of Legislative Decree No. 148 of 7 August 2026 introduces a voluntary correction regime for the 2020–2023 tax years, linked to the renewal of the taxpayer’s participation in the two-year preventive agreement (CPB) for 2026–2027. Although the framework follows the previous special voluntary correction schemes, it is worth clarifying who the beneficiaries are, because the subjective scope is significantly narrower.

Reserved for those who renew, not for those who join for the first time

The provision, in fact, limits the scope exclusively to ISA taxpayers who “renew their participation” in the agreement for 2026–2027. Based on the wording of the law, the following are therefore excluded:

• those who join the CPB for the first time on the occasion of this two-year period;

• those who joined only the 2025–2026 two-year period: for these taxpayers, any renewal, and consequently any possible voluntary correction procedure, will shift to the following two-year period (2027–2028), not the current one.

  
  

In essence, the pool of beneficiaries coincides with those who joined the first agreement, namely the 2024–2025 one, and who now choose to confirm it.

The implicit — though unwritten — effect therefore appears to be that of rewarding taxpayers who remain committed to the CPB without withdrawing from it. Further confirmation comes from the fact that, as an incentive to encourage renewal, the special voluntary correction regime covers the 2020–2023 tax years. While the 2020–2022 tax years do not represent a novelty, as they had already been covered by the first special voluntary correction scheme of 2024, it is the 2023 tax year that aims to strengthen participation (and therefore renewal of the CPB).

This tax year, in fact, is not like the others: 2023 is the tax period whose income data forms the basis of the agreement proposal submitted by the Italian Revenue Agency for the first two-year period (2024–2025). It follows that an assessment capable of challenging the 2023 data could potentially undermine, in turn, the validity of the agreement proposal built on those figures.

However, by now having the possibility to opt for the special voluntary correction procedure, the taxpayer protects themselves from the assessment activities that the Revenue Agency would ordinarily be entitled to carry out, with the sole exceptions expressly and exhaustively provided for by the legislation.

The legislator’s underlying intention behind the new special voluntary correction regime therefore appears clear: by paying the substitute tax for the 2023 tax period, the taxpayer secures the underlying data on which the first agreement was based. Renewal of participation thus becomes an opportunity to consolidate a position that, while still anchored to a reference year that could be subject to assessment, would otherwise have remained exposed.

Tax & Legal Research Hub

Centro Studi e Pianificazione Fiscale

Responsabile

Dott. Valerio Locatelli

Coordinatore

Dott. Giancarlo Marengo