1.Entities that place securities in the market do not qualify as withholding agents in Italy The Italian Supreme Court, with the decision no. 22419 of 4 August 2025, stated that, with respect to withholding taxes on interest and capital income referred to in Art. 26(3) of the Presidential Decree 600/73, … Read more
1.Sales of real estate companies shares are relevant in Italy With their ruling no. 175 of 4 July 2025, the Italian Tax Authorities have clarified that the capital gain derived by a US opaque trust from the sale of shareholdings in a Swiss company whose assets are represented solely by … Read more
1.Game bonuses are not relevant for Italian digital tax purposes With the statement of practice no. 6 of 3 June 2025, the Italian Tax Authorities have clarified that, in online games, gaming bonuses are not relevant to determine taxable base for digital services tax purposes (so-called “web tax”, governed by … Read more
1.Participation exemption regime potential in breach of EU freedoms On the 10 April 2025, the Chartered Accountants Italian Association has issued its document no. 229 which analyses the new participation exemption regime introduced in Italy with respect to capital gains derived by companies resident in the EU or EEA on … Read more
1.The longer time threshold also applies for self-employed benefitting from the in-bound workers Pursuant to ruling no. 22 of 7 February 2025, in order to benefit from the in-bound workers regime, the requirement of having spent six or seven years abroad (instead of the ordinary three pursuant to Article 5(1) … Read more
1. Tax credit on dividends from foreign sources The AIDC rule of conduct no. 227/2025 assesses the options for the recovery of taxes paid abroad on dividends, even where the latter are taxed in Italy in the hands of individuals through the 26% rate substitute tax. Indeed, according to the … Read more
1.Substitute tax for new residents doubles by way of the introduction of Law Decree no. 113/2024 By way of Law Decree no. 113/2024 (so-called “omnibus Decree”) the substitute tax due every fiscal year by individuals who, by transferring their tax residence to Italy, benefit from the Italian res non-dom regime … Read more
1.Allowances for internships programs do not benefit from the in-bound workers regime According to ruling no. 152 issued by the Italian Tax Authorities on 15 July 2024, the benefits of the in-bound workers regime provided for by Art. 16 of Legislative Decree 147/2015 cannot be enjoyed by those who attend … Read more
1.Assonime analyses the Italian pex regime for non-residents With its circular letter no. 10 of 2 May 2024, Assonime has analysed the newly enacted participation exemption regime for non-resident companies and entities, which allows such entities to tax gains derived from the transfer of shareholdings in Italian companies considering as … Read more
1. Employment income is taxable in both residence and work State With its decision no. 5524 of 1 March 2024, the Italian Supreme Court ruled that income from employment performed in Kazakhstan by an Italian resident is taxable in both States pursuant to the relevant provisions of the Tax Treaty … Read more