IVIE Tax Base Post Brexit

Brexit has had a potentially expensive impact for Italian tax residents owning real estate in the UK.  Italian tax residents are required to pay a wealth or ownership tax on foreign (ie. non Italian) real estate (unless the property is owned and occupied as a […]

Taxes on Second Homes in Italy

A second home in Italy If you have bought a house in Italy, but do not intend to live in it as your habitual abode, it will be considered a second home and not an “abitazione principale” or “prima casa” (main home). Under Italian law, […]

The CU – what is it?

The Italian Tax Agency has published the CU 2023 (Certificazione Unica) model form with the relevant instructions. The CU 2023, is a fundamental tax document required by pensioners, employees and the self-employed who are in receipt of income from an Italian employer, pension provider or […]

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, or who have […]

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 […]

Do I need to file an Italian Tax Return?

The answer is most probably yes as the reader will desume from reading the instructions from the Italian tax return (these are from the 2023 return). The rules are complex and there are many exceptions and derogations.   The rules can be summarised as follows, […]

Tax reliefs for Building Renovation Works – 2023

What are they?   It is important to note that each tax relief has specific eligibility criteria, timings, deadlines and requirements, so consultation on any specific works with a professional is essential to determine which tax relief is applicable to your specific situation. The legislation […]

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