As part of the recently installed Italian government\u2019s somewhat controversial \u201camnesty programme\u201d a number of ongoing Italian tax assessment, investigation and litigation proceedings can be settled at a discount. Also worthy of notice is the programme to enable taxpayers to present supplementary returns amending errors or omissions in returns filed up to 31 October 2017. A 20% substitute tax generally applies to the additional reported income\/profits declared. This procedure may also be advantageous for taxpayers who have failed to disclose non-Italian assets in section RW of the return, permitting disclosure of assets with payment of a much smaller amount that would otherwise be due under the standard penalty regime. <\/p>\n
Should you require any assistance with your personal or business tax, please reach out to our experts<\/p>\n