Recent Articles

New Rules for Fiscal Monitoring for Trusts.

New Rules for Fiscal Monitoring for Trusts.

In August 2013, the Italian Parliament approved a new law that changes the rules with regard to fiscal monitoring of the investments and the assets held abroad by Italian residents. The new law establishes that, alongside with the holder of foreign investments, also the beneficiary owner, as defined by the Italian anti-money laundering law (D.Lgs. […]

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The Italian Tax Agency suspends the 20% withholding tax on foreign incomes

Filed in tax assessment, VAT by on 25 February 2014 0 Comments
The Italian Tax Agency suspends the 20% withholding tax on foreign incomes

The Italian Financial Ministry officially confirmed that the 20% withholding tax on some foreign incomes has been suspended until 1st July 2014. Any tax already withheld will be returned directly to taxpayers by the banks. This withholding tax was introduced with art. 4, par. 2 DL 167/1990 (as modified by art. 9 par.1 L. 97/2013). […]

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Helping foreign investors in Italy

Helping foreign investors in Italy

The Italian Tax Agency on 17th December 2013 officially opened a specific desk for foreign companies that intend to invest in Italy and need information on Italian tax obligations. This service aims to give a real support to foreign companies by providing answers to any fiscal questions regarding business projects that will be developed in […]

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Voluntary Disclosure

Filed in direct taxes, tax assessment by on 9 December 2013 0 Comments
Voluntary Disclosure

Foreword Since 2010 the OECD has invited all the member states to tackle the tax evasion also using the voluntary disclosure procedure. To date, there are 39 members of OCSE that encourage voluntary disclosure. The following aspects are generally established: Self-disclosure from the tax payer; A penalty reduction and protection from criminal consequences. What is voluntary […]

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Important Income Tax Return changes for investors in Italy.

Important Income Tax Return changes for investors in Italy.

RW section following the reform of L. 97/2013 (European Law 2013). 1. Foreword The RW section of the Income Tax Return was first introduced with DL n. 167/1990 in order to carry out the so called “monitoraggio fiscale” (fiscal control of investments held abroad). For this reason the compilation of this section by those that […]

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Increase of Italian VAT to 22%

Filed in VAT by on 8 October 2013 0 Comments
Increase of Italian VAT to 22%

Following the Government crisis, on 1st October 2013 the VAT rate will rise from 21% to 22%. This increase is the result of the deadline not being extended according to art. 40, par. 1-ter D.L. 98 of the 6th July 2013 (the previous deadline was brought forward to 1st October 2013 pursuant to art. 11 […]

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