Protected: Working in Italy as an Employee of a Foreign (non-Italian) Employer
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Technical Resource
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 […]
List of deductions and deductible expenses in the FY 2020 tax return
Background An Italian resident taxpayer has the right to certain deductions and claim a tax credit for certain expenses and charges incurred in the relevant tax return – we are starting the 2020 return on income gains realised during the course of 2019. Some of these […]
Tax relief for Building Renovation Works
What is it? Tax Credit for renovation/refurbishment work This consisted originally of a tax deduction – a reduction in computing personal income tax (IRPEF) of 36% (ie. a tax credit) of the expenses incurred, up to a total amount not exceeding Euro 48,000 per property […]
Table of Main Registration Taxes in Italy
This is a (very) simplified table of the registration taxes due on certain documents. The tax office will apply the tax according to the substance of the effect that the document has, not the form.
Tax Relief for the Purchase of Furniture and Household Appliances
What is the Tax Relief? Italy’s recent Finance Law for 2020 extended the tax credit equal to 50% of a maximum of €10,000 of expenditure for furniture and household appliances in connection with buildings subject to renovation. The relief applies to expenditure during the course […]
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 […]
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 […]
Step of up of Shares – Advancing the Tax on Capital Gains by paying substitute tax in exchange for a step-up
Article 1, paragraphs 693 and 694, of the Law of 27 December 2019, n. 160 (Finance Law 2020 – amending and extending article 2(2) of Decree Law of 24 December 2002, no. 282, and article 7 of Law 28.12.2001, n. 448) allows the revaluation of […]
Tax Relief for Donations in favour of Italian Art and Culture
This tax relief known as the “Art Bonus” is available to individuals, institutions and companies who support Italian cultural heritage by making financial donations. The Art bonus consists of a tax credit equal to 65% of the donation subject to the following annual limits:- 15% […]