Tax Penalties and the Ravvedimento Operoso

The Ravvedimento Operoso Procedure derives from the Italian word which can be literally translated as “redemption” or “penitence”.   It is, however, in this context not a religious concept, but simply a procedure that allows taxpayers who have missed a deadline for payment to pay tax […]

Stock options – the timing of the tax benefit

The Italian Tax Agency responding to a request for an official interpretation on the tax treatment of options (no. 23 of 5 February 2020) has set out its view of the moment in which stock options become taxable in the hands of employees working in […]

Italian Social Security Rates (INPS Gestione Separata) 2020

The Italian national social security institute has issued an update to the rates, maximum and minimum thresholds,  instructions for the sharing of social security burden applicable to the self-employed for 2020 in circular no. 12 of 3 February. “Collaborators” (ie. those with co.co.pro and co.co.co […]

Short Term Rentals – Italian Government proposes new restrictions

Italy’s centre left administration proposes to introduces limitations for those who rent rooms, holiday homes or apartments for short periods An amendment to the “Milleproroghe Decree” (one thousand extensions), presented by the “Democratic Party” to the Italian Chamber of Deputies, proposes a squeeze for those […]

White List Countries

The Italian government originally published a list in 1996  – known as the White List – concerning changes to the tax regime for interest, and other income on bonds and similar securities, public and private.  A reduced rate of tax was available to income deriving […]

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