The Italian Revenue Agency is attaching great importance to its examination of taxpayers in certain areas under a newly devised risk-based system. The risk-based approach is designed to take into account the area of the country where the taxpayer lives and the risk of tax evasion in that area. Under this approach, more than 11 million Italians are estimated to live in provinces with a high compliance risk, and more than 9 million are living in areas classified as medium to high risk. This system is based on economic, financial and social data for the whole country and structured into the geographical picture. To this data is added some internal estimates gleaned from the Italian Revenue Agency’s own resources.
«
Italy Confirms Tax Cuts
Japan and US Hold Talks On TPP
»
Related Posts
Italy to allow software based storage, transmission of daily receipt data reporting
Italy has published Legislative Decree 1/2024 on Rationalization and Simplification of the Rules on Tax Compliance in 2024. The decree was designed to streamline compliance and enhance efficiency for businesses. Under Article 24, using software
Read MoreItaly introduces rules to prevent VAT fraud on imports
Italy has published two decrees to prevent value added tax (VAT) fraud on imports under EU Directive 2006/112/EC. Decree 4/12/24 and Decree 9/12/24, was published in the official gazette on 9 December 2024 and 13 December 2024. The decrees
Read MoreItaly: Chamber of Deputies approve 2025 budget
Italy's government has secured a win in the Chamber of Deputies on 20 December 2024 by securing a confidence vote on its 2025 budget. The budget seeks to reduce next year’s fiscal deficit to 3.3% of gross domestic product (GDP), down from the
Read MoreItaly announces statutory interest rate for 2025
Italy has published the Decree of 10 December 2024 in the Official Gazette, which sets a 2.0% statutory (legal) interest rate (down from 2.5%) with effect from 1 January 2025. The statutory interest rate applies to interest income taxation as a
Read MoreItaly announces penalty relief rules for hybrid mismatch rules
Italy's Ministry of Economy and Finance has published the Decree of 6 December 2024 outlining the penalty reliefs rules for violations of Italy's hybrid mismatch rules. The Decree’s penalty relief rules are taken from Legislative Decree No. 209
Read MoreItaly ratifies new tax treaty with China
Italy has published Law No. 182 of November 18, 2024, in the Official Gazette on 3 December, 2024, ratifying the new tax treaty with China. The agreement aims for the elimination of double taxation with respect to taxes on income and the prevention
Read More