Italy: E-Invoicing Requirements for Suppliers of Goods and Services
The suppliers of goods and services in Italy will be required to submit electronic invoices through Italy's online platform to almost all public authorities (PAs) from March 31, 2015. Businesses supplying public authorities must provide the required
See MoreItaly:Parliament Approves a Law to Ratify a Pending Double Taxation Agreement (DTA) Protocol with Mexico
The lower of Parliament of Italy has approved a law on December 18, 2014 to ratify a pending Double Taxation Agreement (DTA) Protocol with
See MoreItaly: Introduces New Reduced Tax Regime for Self-Employed Individuals
Italy has introduced new reduced tax regime for Italian self-employed individuals and which will be effective from January 1, 2015. The self-employed individuals including entrepreneurs and sole traders will be entitled to new 15 percent fixed tax
See MoreItaly: approves fiscal budget for 2015
Italy has approved 2015 fiscal budget with deficit. The budget bill was passed by both houses of parliament when the Chamber of Deputies approved the budget on December 22. Budget implication on Tax & VAT: The Budget includes a cut in the
See MoreItaly & Mexico: Amended protocol to DTA approved by Italian Parliament
The Italian Parliament has approved the amended protocol to the Italy - Mexico Income Tax Treaty of 1991 on 18 December 2014 and it was signed on 23 June 2011. Further details will reported
See MoreItaly: approves a decree to pre-compile individual income tax returns covering 2015 tax forms
The Italian Cabinet has approved a decree to pre-compile individual income tax return on October 30, 2014. This scheme will cover 2015 tax forms. A pre-compiled form will be available to the tax payers by April 15 each year over the internet. The
See MoreItaly: ratification of Tax Information Exchange Agreements (TIEAs) with the Cook Islands and Jersey on October 30, 2014
Italy has ratified its Tax Information Exchange Agreements (TIEAs) with the Cook Islands and Jersey and it was published in the official gazette on October 30,
See MoreItaly: Ratifies its protocol with the Republic of Korea on October 29, 2014
Italy has ratified its tax treaty protocol with the Republic of Korea and it was published in the official gazette on October 29,
See MoreItalian individual income tax returns will be pre-compiled
Italy's Cabinet re-examined the draft law decree at its meeting on September 19. As per the decree individual income tax returns will be pre-compiled for 30m Italian employees and pensioners from 2015. Tax forms pre-compiled by the Revenue Agency of
See MoreItaly: Requests to pay tax in installments has been increased
A record 156,000 requests from taxpayers has been received in July 2014 by Equitalia, Italy's tax collection agency to pay their tax debts by installments. There are now said to be 2.4m such agreements in operation with a total value of EUR26.6bn
See MoreItaly: Withholding tax rate hikes on financial income.
Italian withholding tax rate hike on financial income from 20 percent to 26% has been effective from July 1, 2014. Italian savers has been imposed increased tax rate on interest, dividends and capital gains in the passes of governments which was
See MoreItaly: Simplification of Individual Tax Filing by incorporating the provision of pre-compiled tax returns
Italian cabinet approved a draft tax simplification law decree on June 20, 2014. It was confirmed by the Minister of Constitutional Reforms and Relations Maria, Elena Boschi that from 2015 tax returns will be pre-compiled for 30 million Italian
See MoreItaly: New anti-avoidance rules
The Italian Parliament approved the Law no. 23 of 2014 in March 2014 empowering the government to enact a partial reform of the Italian fiscal system. The government will adopt legislative decrees for the amendment of the Italian abuse of law and
See MoreItaly – Reduced rates of IRAP regional tax
Decreto-Legge n 66/2014 which was published on 24 April 2014 reduces the rates of the regional tax on productive activities (IRAP). This amendment is awaiting ratification from parliament within 60 days but could be subject to further alterations
See MoreItaly Expands Employee Productivity Tax Incentive
Italy has extended into 2014 the reduced individual income tax rate for earnings from work arrangements that increase corporate productivity. This lower 10 percent rate was first introduced in 2008 and has been extended in the 2014 budget.
See MoreItaly: Small businesses consider tax cut to be insufficient
In Italy the association representing small and medium-sized enterprises, has suggested that the government’s plan to reduce the regional tax on production activities (IRAP) by 10 percent will only bring a very small measure of assistance to
See MoreItaly: Government reduces IRAP rate and enacts other tax measures
Law Decree no. 66 published in the Official Gazette on 24 April 2014 confirms certain tax changes that were previously announced on 12 March 2014. The measures include a reduction of the regional tax on productive activities (IRAP) from a standard
See MoreItaly Introduces e-advertising Tax Legislation
Italy has introduced a tax measure under which foreign companies must apply for a VAT number if they intend to engage in the sale of online advertising to enterprises in Italy. This measure is to take effect on 1 July 2014. The delay in carrying out
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