What does the special tax relief consist of? A 7% flat tax on all income for all pensioners (regardless of nationality) who: have been tax resident outside Italy for at least five (5) years prior to the tax year in which they become Italian tax […]
Official Guidance on Meaning of Equipment (in Italian) “As is well known [sic], art. 1 of Decree of the Crown no. 246/1938 provides that “Anyone holding one or more of the following items of equipment which are suitable or can be adaptable for the reception […]
Creating a cultural association is an opportunity to carry out activities in various fields, such as cinema, entertainment, art, culture, civic and social education, environmental protection, establishment of courses, social issues of various kinds etc. Whilst it is possible just to create an association with […]
Doubling of HNWI Flat Tax from Euro 100k to 200k An Italian Government Press Release reports that the Italian Council of Ministers, in a meeting on 7 August 2024Ā approved the text of a draft Decree introducing a series of urgent tax and other measures.Ā Ā Decree-Law […]
Increase in IVIE and IVAFE Starting from FY 2024, the rate of IVIE, the tax on the value of foreign (non Italian) real estate located abroad, will increase from 0.76% to 1.06%. This increase applies generally to all real estate situated outside Italy by a […]
An “apostille” is a form to be applied to documents for use in countries that are party to the 1961 Hague Convention.Ā The convention is designed to rationalise procedures for the recognition and validation of legal documents executed in one signatory country and to be […]
By 30 November of each year, Italian taxpayers must make payment of the second payment on account. The first payment was due earlier in the year at the same time as the tax due on income reported in your latest annual tax return.Ā The amount […]
Italy has no personal relief nor (any longer) a no-tax zone.Ā This means that you start paying income (at 23% – see the marginal rates here) of the first euro of income.Ā However Italy has an intricate system of tax credits (described as “deduzioni” – […]
Modello Redditi PF The tax return is called āPFā standing forĀ Persone FisicheĀ (individuals).Ā ModelloĀ in Italian means āFormā. The PF form is for use by individuals who are not able to present the simplified tax return (theĀ modelloĀ 730) or who having filed a 730, need to report foreign income […]
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