Pretty hefty amount of complications were found between the content of instructions related to the income tax return for the fiscal year 2016 and the subsequent ITA Protocol of January 28th, 2017 bringing in rules for implementation for the option. Hence, ITA issued Resolution (No. 4E) providing explanations on the filing responsibilities for the taxpayers opting for the foreign branch exemption on 15th January, 2018. They came up with specific procedures to the correct compilation of the relevant returns.
Next post
UAE: Cabinet approves DTA with Moldova
UAE: Cabinet approves DTA with Moldova
»
Related Posts
Italy announces statutory interest rate for 2025Â
December 19, 2024
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 More Italy announces penalty relief rules for hybrid mismatch rules
December 13, 2024
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 More Italy ratifies new tax treaty with China
December 08, 2024
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
Italy gazettes decree on VAT scheme for small businesses
December 05, 2024
Italy’s government has gazetted the Legislative decree No. 180/2024 in the Official Journal No. 281, on 30 November 2024, which implements the provisions of the Amending Directive to the VAT Directive (2020/285) and the Amending Directive to the
Read More
Italy clarifies permanent establishment exemption for investment management
November 22, 2024
Italy’s tax authorities released Circular No. 23/E on 19 November 2024, outlining the guidelines for the permanent establishment investment management exemption introduced in the 2023 Budget Law. One of the key provisions in the 2024 Budget Law
Read More Italy approves tax credit model form for SEZ investments in agriculture, forestry, fisheries
November 21, 2024
Italy’s tax authorities have sanctioned the model form for tax credit required for eligible businesses in the agriculture, forestry, fishery, and aquaculture sectors in the Single Special Economic Zone (Single SEZ). This form is essential for
Read More