Executive Performance and Compensation
7.1 Executive Roles and Titles Italian companies typically appoint executives such as: Amministratore Delegato (CEO) – Chief executive with delegated powers Direttore Generale – General manager overseeing operations Chief Financial Officer (CFO) – Responsible for financial strategy and reporting Board Chair (Presidente) – Leads board meetings and governance oversight. Titles and roles vary by company […]
Accounting and Reporting
6.1 Accounting Standards Italian companies generally follow the Italian GAAP (OIC) for statutory reporting. Listed companies and large groups must use IFRS as adopted by the EU. The choice of standards depends on company type, size, and listing status. 6.2 Bookkeeping Requirements All companies must maintain accurate books, including: Journal (Libro giornale) Inventory book (Libro […]
Directors and Management
4.1 Appointment and Eligibility Directors are appointed by shareholders and must meet basic eligibility criteria: Be at least 18 years old Hold a valid Italian tax code (codice fiscale) Not be disqualified or bankrupt Additional requirements apply to directors of companies regulated such as certain financial sector entities. Foreign nationals may serve as directors, subject […]
Black List Countries
Presumption of Tax Residence Article 2, paragraph 2-bis of the Italian Income Tax Code (TUIR – Presidential Decree No. 917/1986) contains a specific anti-tax avoidance provision concerning the tax residency of Italian citizens. Reversing the Burden of Proof: This provision establishes a rebuttable presumption that an Italian citizen who transfers their residence to a country […]
Payments on Account
Introduction By 30 June and 30 November of each year, Italian taxpayers must make payment on account (acconto) of their tax liability for the current year. The amount to be paid by way of first and second account payments is primarily based on the tax due as shown in the tax return for the previous […]
Italian Taxes for Corporations
An Overview of Italian Taxes Due By Corporate Bodies Carrying on Business in Italy Italian resident corporations and foreign companies operating in Italy through an Italian branch/permanent establishment, as well as a number of other entities that are treated as corporations are subject to two principal forms of taxation: Imposta sul Reddito delle Società (IRES) […]
Tax For Digital Nomads
Compliance with Tax and Social Regulations Moving to Italy as a digital nomad comports the payment of income taxes, social security contributions according to the rules applicable to your specific situation. It is clear, from the tenor of the digital nomad visa/permesso legislation that Italy intends digital nomads to comply with their obligations in terms of tax […]
UK Italy Inheritance Tax Treaty
CONVENTlON BETWEEN THE GOVERNMENT OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND AND THE GOVERNMENT OF THE ITALIAN REPUBLIC FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO DUTIES ON THE ESTATES OF DECEASED PERSONS London, 15 February 1966 CONVENZIONE FRA IL GOVERNO DEL REGNO UNITO DI GRAN […]
National Identification Codes (CIR and CIN) for Short-Term Rentals
What is the CIR? The CIR i(codice Identificativo Regionale) is a mandatory regional identification code, a unique alphanumeric code assigned by each Region for any property being offered as a short‑term tourist rental in Italy. It applies to both private hosts and professional operators, and most regions require it before advertising or accepting guests. The […]
Working in Italy as an Employee of a Foreign Company
Working as an Employee from Italian Soil If you are an employer outside Italy and thinking of hiring an employee who will be working from Italy, the legal, tax and social security ramifications can be complex. If you are an employee thinking of working remotely for a non Italian employer then the first step […]