Payments on account for small businesses
The Italian Tax Agency has recently published (in Resolution no. 93/E of November 12, 2019) clarification on the remodeling of payments on account for taxpayers small businesses subject to the new rules and taxpayers on the lump sum flat tax regime (regime forfettaria)Â following the issue of Decree no. 124/2019. That decree changed as from […]
Italian Real Estate Purchase Guide
The Italian tax regime applicable to residential real estate can seem confusing. Real estate has always been an attractive source of income for governments around Europe, and Italy is no exception. As real estate is difficult to move about, it presents an easy target for the Exchequer. The current Italian tax regime seeks to differentiate […]
ISA (Summary Reliability Indices) – What are they?
With the establishment of the “Indici sintetici di affidabilitĂ ” – ISA’s or Summary Reliability Indices, the Italian Tax Agency aims to “facilitate the compliance of tax obligations and encourage the spontaneous emergence of taxable income.” These indices form part of a wider initiative for Italian taxpayers carrying on business activities, arts or professions, that aims, […]
Extension of deadline for tax payments from 1 July 2019 to 30 September for Italian individual taxpayers subject to the new ISA’s
The Italian Tax Agency has issued a resolution (no .64/E of 28 June), regarding the changes introduced by Article 12 V of Decree no. 34/2019 (Decreto Crescita/Growth Decree 2019). The Decree extended the tax payment deadline of 1 July (normally 30 June, but being a Sunday the deadline was automatically moved back to the next […]
Flat tax regime – Tax Agency Resolution
A taxpayer who has worked for an employer in the two tax periods prior to the intended start of the flat tax regime (regime forfettario agevolato) cannot apply for the regime if he or she will be mainly working for the ex-employer once self-employed. The reason for this rule is to reduce the possibility that […]
2019 Tax Update
Attached are the slides of our recent presentation to the International Association of Accountants [embeddoc url=”https://taxing.it/wp-content/uploads/2019/04/The-2019-Spring-Italian-Tax-update-20190312-112PE_opt.pdf” viewer=”google”]
Italy Tax Guide
Overview This is a very general guide and only intended to give some basic background information. It should not be seen as a substitute for specific advice. Table of Contents Tax residence Impact of tax residence Individuals who are tax-resident in Italy for tax purposes are subject to Italian income tax on their worldwide income. […]
Flat Tax for pensioners coming to live in the South of Italy – 10 years at 7%
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 resident; transfer their tax residence to one of the Regions in […]
Extended definition of Permanent Establishment
Italy’s 2018 Finance Act made some significant changes to the definition in the domestic Tax Code of Permanent Establishment (PE). Specifically the changes: extend the definition of agency PE; make ALL the listed activities (deriving from the OECD standard model) which are deemed not to give rise to a PE conditional on the activities being […]
2018 Italian Tax Update
[embeddoc url=”https://taxing.it/wp-content/uploads/2018/09/The-2018-Spring-Italian-Tax-update-2018050-110F_opt.pdf” viewer=”google”]