Italian 2026 Finance Law – Key Tax Measures: Reduced Tax Rate for Middle Incomes | Flat-tax/HNWI“new-resident” regime adjustments (for high net-worth individuals) | Incentives / “flat tax” regimes for employment income| Continued incentives for investments and capital goods (businesses) | Tax-collection and “fiscal-relief” measures: debt-collection amortization, freeze for property-transfer taxes | Tax treatment of dividends, capital gains, and financial income | Sectors/Special Taxes: financial intermediaries, “windfall” taxes, bank levy
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The Annual Italian Tax Return

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Modello 730 and Modello Redditi PF

The Italian tax system offers two main annual  personal income tax return forms: Modello 730 and Modello Redditi Persone Fisiche (PF). Which one a taxpayer must use depends on their residency, type of income, and whether they have an Italian withholding agent. Recent years have seen an extension of who can use the Modello 730.

Who Can File a Modello 730

The Modello 730 is the simplified return. It is available only to taxpayers who meet specific conditions.

You can file a 730 if ALL of the following apply:

  • You are an Italian tax resident in the year of filing and in the previous year.
  • You have an Italian withholding agent (employer or pension provider) during the filing period.
  • You do NOT have a VAT number (i.e., you are not self‑employed or a freelancer).
  • Your income consists of:
  • Employment income
  • Pension income
  • Certain other income categories allowed under 730 rules (e.g., some property income)
  • Typical taxpayers who use the 730:
    Employees
  • Pensioners
  • Some categories of workers with a sostituto d’imposta
  • Married couples filing jointly
  • Why use the 730?
    No need to calculate taxes yourself — the withholding agent adjusts your tax via payroll or pension.

Refunds usually arrive more quickly (via pay slip or pension).

Who Must File a Modello Redditi PF (Modello Unico PF)

The Modello Redditi PF is required for anyone who does not meet the 730 requirements.

You must file a PF return if ANY of the following apply:

  • You are not resident in Italy for tax purposes during the tax year and/or the filing year.
  • You do not have an Italian withholding agent.
  • You have a VAT number (self‑employed, freelancers, sole proprietors).
  • You have income not allowed under the 730 rules, such as:
    • Foreign income without an Italian withholding agent
    • Business income
    • Professional income
    • Participation income
    • Certain capital gains
    • Complex rental income situations
    • You are filing on behalf of a deceased taxpayer.

Typical taxpayers who must use PF:

  • Non‑residents
  • Freelancers and self‑employed individuals
  • Individuals with complex foreign income not received via an Italian intermediary
  • Individuals with complex tax positions

Official Forms & Instructions

These links point to the current year’s forms on the Agenzia delle Entrate website.

Modello 730 – Forms & Instructions

https://www.agenziaentrate.gov.it/portale/730-2025/modello-e-istruzioni

Modello Redditi Persone Fisiche (PF) – Forms & Instructions

https://www.agenziaentrate.gov.it/portale/redditi-persone-fisiche-2025/modello-e-istruzioni

These pages are updated annually by the Agenzia delle Entrate.