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Two-year advance tax agreement (CPB): when it pays and what you risk

2026-2027 deadline expired on 2 November: break-even calculation with an example, November payment on account, forfeiture and limits of audit protection.

The concordato preventivo biennale (two-year advance tax agreement) is worthwhile if actual income over the two years exceeds the break-even point, which must be calculated case by case: the substitute tax may bring it even below the agreed income, while social security contributions may push it above. Actual income in excess of the agreed income is not taxed, and the portion of the agreed income exceeding 2025 income may, at the taxpayer’s option, be subject to a substitute tax of between 10 and 15 per cent, up to a difference of 85,000 euro; beyond that amount the substitute tax applies at the highest IRPEF (personal income tax) rate, 43 per cent, or at the IRES (corporate income tax) rate for companies. The risks are a poorer year, which does not reduce taxes, and forfeiture, which removes the benefits for both years but leaves the agreed amount payable. For the 2026-2027 period the deadline for joining expired on 2 November 2026: the calculation is now relevant to those who have joined and to those who will assess the next proposal.

The framework

The agreement is governed by Articles 6 et seq. of Legislative Decree no. 13 of 12 February 2024, as amended by Article 28 of Legislative Decree no. 148 of 7 August 2026 with effect from the 2026-2027 period. Article 7-bis, paragraph 3, of Decree-Law no. 38 of 27 March 2026, converted by Law no. 88 of 22 May 2026, deferred the deadline for joining to 31 October 2026, which moved to Monday 2 November because 31 October fell on a Saturday (Article 7, paragraph 1, letter h), of Decree-Law no. 70 of 13 May 2011; see also circular of the Agenzia delle entrate, the Italian Revenue Agency, no. 8/E of 6 October 2026). The deadline has expired; for non-calendar financial years the deadline is the last day of the tenth month following the year end, to be checked case by case.

Access is available to those who apply the ISA (indici sintetici di affidabilità fiscale, synthetic tax reliability indices) and who have no debts for taxes administered by the Agenzia delle entrate or for social security contributions relating to 2025 that have become final, unless such debts were paid by the deadline for joining so as to leave a residual amount, including interest and penalties, below 5,000 euro; debts that are suspended or being paid in instalments in good standing are not counted (Article 10, paragraph 2); the grounds for exclusion are set out in Article 11. From 2026, joining without meeting the requirements or while a ground for exclusion applies is “without effect” (Article 10, paragraph 2-bis, and Article 11, paragraph 1-bis): it is deemed never to have occurred. From 1 January 2027 the rules move into the testo unico adempimenti e accertamento (consolidated code on tax compliance and assessment, Legislative Decree no. 141 of 5 August 2026), with different numbering.

What changes in concrete terms

A professional has adjusted 2025 income of 40,000 euro and an ISA score of 9.2, and has accepted a proposal of 45,000 euro for 2026 (the statutory ceiling, plus 15 per cent, was 46,000). On the 5,000 euro excess, if the substitute tax is chosen, the 10 per cent rate (Article 20-bis) amounts to 500 euro; on the first 40,000 euro gross IRPEF is 10,400 euro (6,440 at 23 per cent up to 28,000, and 3,960 at 33 per cent on the balance). Total: 10,900 euro, whatever the actual result.

If 2026 closes at 50,000 euro, ordinary IRPEF would be 13,700 euro: the saving is 2,800 euro, plus the regional and municipal surcharges (addizionali). If it closes at 36,000, it would be 9,080 euro: the agreement costs 1,820 euro more. On taxes alone, break-even is at about 41,500 euro. For those enrolled in the INPS gestione separata (separate pension scheme) or in the INPS schemes for craftsmen and traders, contributions are paid on the agreed income (Article 19, paragraph 1), so the real break-even point is higher; professionals enrolled in a private professional pension fund (cassa) must check how their fund applies the rule and redo the calculation accordingly.

Those joining for the first time and using the historical method add to the second instalment of the payment on account 10 per cent of the difference between the agreed income and adjusted 2025 income, 500 euro in the example, and 3 per cent of the difference for IRAP (regional tax on productive activities) purposes (Article 20, paragraphs 2 and 3). Those renewing do not owe this surcharge (paragraph 3-bis).

Forfeiture (Article 22) affects both years. It is triggered, among other things, if an assessment of the two-year period or of 2025 finds undeclared income or non-existent or non-deductible costs exceeding 30 per cent of the declared revenues or fees (with fees of 90,000 euro, above 27,000); if an assessment of 2025 finds errors in the data reported that bring the correct income to at least 30 per cent more than the agreed income (letter b); in the event of failure to file returns; for three or more violations relating to electronic transmission of daily takings on different days; and if the amounts due following the checks under Article 12, paragraph 2, are not paid in accordance with Article 2 of Legislative Decree 462/1997, i.e. within sixty days of receipt of the notice of irregularity (letter e). A taxpayer who forfeits loses the protection and, if actual income is lower, still pays on the agreed income (paragraph 3-bis).

As long as the agreement remains effective, assessment under Article 39 of Presidential Decree (d.P.R.) 600/1973 is excluded for the agreed years (Article 34), and the benefits of Article 9-bis, paragraph 11, of Decree-Law 50/2017 apply, including the exclusion of simple presumptions, also for VAT purposes, and time limits for assessment brought forward by at least one year, or two for those who renew (Article 14, paragraph 1-bis). VAT, however, is computed on actual transactions, and audits remain possible.

In practice

• By 30 November 2026 (Article 17, paragraph 3, of d.P.R. 435/2001): those joining for the first time pay the second instalment of the payment on account with the surcharge, if they use the historical method.
• Immediately: document the requirements relating to 2025 (debts shown in the cassetto fiscale, the taxpayer’s online tax account, in the INPS social security account or with the taxpayer’s professional pension fund, and with the agente della riscossione, the tax collection agent, with receipts for payments made by 2 November 2026 and evidence that instalment plans are in good standing; absence of grounds for exclusion).
• If there is an error in the 2025 data: file a supplementary return and use ravvedimento operoso (voluntary correction) before any audit or notified act. The agreed income is redetermined on the corrected data (Article 19, paragraph 3-bis), whereas forfeiture under letter b) is triggered only following an assessment. The ravvedimento under Article 22, paragraph 3, applies instead to the violations in paragraph 2, letters a) and b), such as inaccurate reporting of ISA data: it counts if made before the violation is formally established and before any access, inspection or audit begins.
• Those who have renewed: between 1 January and 15 March 2027, also in up to ten instalments, they may pay the substitute tax for the years 2020-2023 (Article 29 of Legislative Decree 148/2026); in return, the time limits for assessing those years are extended to 31 December 2029. In any event, for those who have renewed, time limits for assessment expiring on 31 December 2026 are extended to 31 December 2027 (Article 29, paragraph 17): the records for that year must be kept accordingly.
• Documents to keep: CPB form and filing receipt, proposal, adjustments under Articles 15 and 16, evidence of the requirements, F24 payment forms.

Mistakes to avoid

• Forgetting the surcharge in November, or paying it despite having renewed.
• Paying the amounts in the notice of irregularity in instalments without assessing the effects on the agreement: to avoid forfeiture, the law requires payment in accordance with Article 2 of Legislative Decree 462/1997, within sixty days of receipt (Article 22, paragraph 1, letter e), and does not say whether timely payment of the first instalment is sufficient. As a precaution, it is advisable to pay in full.
• Using the agreed income for ISEE (the household means-test indicator) and for other benefits: actual income is what counts (Article 35, paragraph 2).
• Admitting a new partner to a partnership or a professional association, or carrying out mergers, demergers or contributions of assets, without considering that the agreement ceases from that year (Article 21, paragraph 1, letter b-ter); exceptions are heirs and, for those who have renewed, partners who in the previous year had employment income or similar income, or business or self-employment income of up to 35,000 euro.
• Counting on a fall in turnover to exit: this requires an exceptional circumstance provided for by ministerial decree and income more than 30 per cent lower (Article 19, paragraph 2).

References

Legislative Decree no. 13 of 12 February 2024, Articles 9, 10, 11, 14, 19, 20, 20-bis, 21, 22, 34 and 35

Decree-Law no. 38 of 27 March 2026, Article 7-bis, paragraph 3, converted by Law no. 88 of 22 May 2026

Legislative Decree no. 148 of 7 August 2026, Articles 28 and 29

Decree-Law no. 50 of 24 April 2017, Article 9-bis, paragraph 11

d.P.R. 917/1986, Article 11

d.P.R. 435/2001, Article 17, paragraph 3

d.P.R. 600/1973, Articles 36-bis and 39

Legislative Decree no. 462 of 18 December 1997, Articles 2 and 3-bis

Decree-Law no. 70 of 13 May 2011, Article 7, paragraph 1, letter h)

Legislative Decree no. 141 of 5 August 2026 (from 1 January 2027)

Agenzia delle entrate circular no. 8/E of 6 October 2026