With 2024 now over, businesses must focus on the final accounting and tax obligations related to the past financial year. Meeting these deadlines is essential to ensure compliance with regulations and avoid penalties.
This article provides a clear guide to all the key deadlines and requirements to be met in 2025.
1. Closing the Financial Statements and Accounting Obligations
Preparation of Financial Statements
The company’s financial statements must be closed as of December 31, 2024, which marks the end of the financial year for most companies. The company’s administrative body is responsible for the correct preparation of accounting documents.
The financial statements must include:
- Balance sheet (assets, liabilities, and equity).
- Income statement (revenues, costs, and profit/loss).
- Notes to the financial statements, explaining key financial statement items.
Approval of Financial Statements
After preparation, the financial statements must be reviewed and approved by the General Meeting of Shareholders or the sole shareholder. The deadline for approval is June 30, 2025 (six months after the financial year-end).
If the financial statements require a statutory audit, it is advisable to appoint an auditor for the next year at this stage.
Publication of Financial Statements
Joint-stock companies (S.p.A.) and European Companies (SE) must publish their financial statements on their website at least 30 days before and after the official approval.
The following documents must be published:
- Complete financial statements.
- Annual report.
- Related parties report (if applicable).
Filing of Financial Statements with the Commercial Register
Once approved, the financial statements must be filed with the Commercial Register within 30 days of approval, and no later than December 31, 2025. This requirement applies regardless of whether the financial statements have been approved.
2. Mandatory Reports: Related Party report and Annual Report
Related Party Report
Companies controlled by another entity (such as a parent company or corporate group) must prepare a report on related party transactions within three months of the end of the financial year.
- If the company has a supervisory body (such as a supervisory board), it must review the document and report to the General Meeting.
- If the company has a sole shareholder, no specific review is required.
This report must also be filed with the Commercial Register within 30 days of approval, but no later than December 31, 2025 (12 months from the financial statement date).
Annual Report
Companies subject to a statutory audit must prepare an annual report, providing an overview of their activities, financial performance, and future strategy.
Joint-stock companies that are not subject to an audit must instead submit a business activities and financial status report.
3. Corporate Tax Return and Fiscal Obligations
Deadlines for Corporate Tax Return Submission
Companies must submit their corporate tax return within three months of the end of the financial year, i.e., by April 1, 2025, if submitted in paper form. However, the deadline may be extended in the following cases:
- May 2, 2025 → If the tax return is submitted electronically.
- July 1, 2025 → If the financial statements require an audit or if the tax return is filed by a tax advisor.
Mandatory Submission
Companies that:
- Have an active electronic mailbox (as required by law).
- Are subject to financial statement audits.
Must submit the corporate tax return electronically or through a tax consultant by May 2, 2025, or July 1, 2025, depending on the applicable conditions.
4. Practical Tips for Fiscal Compliance
To avoid errors and penalties, here are some useful tips for businesses:
✅ Close the financial statements early → Do not wait until the last minute, especially if an audit is required.
✅ Engage an accountant or auditor → A professional can help ensure compliance and optimize tax management.
✅ Use accounting management software → Digital tools can simplify bookkeeping and financial statement preparation.
✅ Monitor deadlines → Set reminders to meet all filing and publication deadlines.
5. Summary of Key Deadlines for 2025
| Obligation | Deadline |
| Approval of financial statements | June 30, 2025 |
| Publication of financial statements on the website | 30 days before and after approval |
| Filing of financial statements with the Commercial Register | 30 days after approval (latest by December 31, 2025) |
| Related party transactions report | within three months of the end of the financial year |
| Filing of the related party transactions report | 30 days after approval (latest by December 31, 2025) |
| Corporate tax return submission (paper) | April 1, 2025 |
| Corporate tax return submission (electronic) | May 2, 2025 |
| Corporate tax return submission (with audit or tax consultant) | July 1, 2025 |
Conclusion
Managing accounting and tax obligations requires careful planning to avoid penalties and ensure compliance with regulations. Understanding deadlines in advance and relying on experienced consultants can make a significant difference in ensuring a smooth financial year-end process.
If you need support, contact us to help you efficiently manage the 2024 financial closure.
AI-generated image.
Sources: Eversheds Sutherland
