As part of efforts by the Italian Revenue Agency to increase the scrutiny of tax compliance reports by banks and other financial institutions containing statistics of transactions for 2012 were due to be submitted by March 31, 2014. The scrutiny of reports from third parties is one method of detecting under reporting by taxpayers and is one of the tools used to close the tax gap, which is very wide in Italy. Financial institutions in particular can provide the tax authorities with valuable information about the income and expenses of taxpayers. The details provided by the financial institutions will be used by the tax authorities to compile a list of persons who are high risk in terms of tax evasion. The information will be supplemented by examination of the spending and investing behavior of the individuals or companies compared to their tax returns.
«
Ireland – Taxation of Termination Payments Challenged
Lithuania – VAT and excise tax updates
»
Related Posts
Italy approves tax credit forms for simplified logistics zone investments
Italy’s tax authorities have approved the forms that qualifying enterprises must submit to claim the tax credit for investments in simplified logistics zones (ZLS) under Law Decree No. 202/2024. The regulations are detailed in Protocol No.
Read More
Italy approves VAT reporting model form for small businesses
Italy's tax authorities have approved the quarterly form for qualifying taxable persons in Italy using the special VAT scheme for small enterprises in other EU Member States. The tax authorities outlined the guidelines in Protocol No.
Read More Italy releases 2024 corporate tax return forms
Italy’s tax authorities have released tax return forms for the fiscal year of 2024. The return forms are: Corporate tax (IRES) return form: Redditi 2025–SC and instructions, approved by Protocol No. 131067/2025 of 17 March 2025;
Read More Italy: Council of Ministers approve tax reform adjustments, bans e-invoicing for healthcare professionals
Italy’s Council of Ministers have preliminarily approved a Legislative Decree with supplementary and corrective provisions to the recent tax reform on 13 March 2025. The provisions cover compliance, penalties, litigation, and the two-year
Read More Italy gazettes decree on global minimum tax form
Italy’s Ministry of Economy and Finance has published the Ministerial Decree of 25 February 2025 in the Official Gazette No. 54 on 6 March 2025. As previously reported, the decree sets rules for companies subject to the global minimum tax on
Read More
China, Italy new tax treaty enters into force
The new income tax agreement between China and Italy was enacted on 19 February 2025. Signed on 23 March 2019, it replaces the 1986 treaty between China and Italy. The agreement aims to eliminate double taxation on income and prevent tax
Read More