Italian Tax Agency Glossary of Tax Terminology in English
The Italian Tax Agency has published a glossary of tax terminology
Protected: Tax credit on pension income
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Protected: Taxation of pensions in Italy
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Protected: Working in Italy as an Employee of a Foreign (non-Italian) Employer
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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 underpaid tax, to pay the tax late, on their own […]
Tax on Disposal of Real Estate
General Rule In Italy, capital gains from the disposal (sale or transfer) of real estate are generally treated as miscellaneous income under Article 67 of the TUIR (Testo Unico delle Imposte sui Redditi, DPR 917/1986). The taxable gain is the difference between the sale price and the acquisition cost (plus any additional expenses such as […]
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. Â
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 of 2020 for renovation that commences on or after 1 […]
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 from White List countries, i.e. those countries with which Italy […]
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% of taxable income, for individuals and non commercial entities; 0.005% […]