1. Residence certificate and withholding refund With its decision no. 9050 of 25 April 2024, the Italian Supreme Court ruled that, in order for a foreign employee to receive the reimbursement of withholding levied by his/hers Italian employer, he/she only needs to provide the Italian Tax Authorities with a residence … Read more
Foreword With the Legislative Decree no. 209 of 28 December 2023, the Italian inbound workers regime has changed once again. The amendments to the regime have the effect of rendering the regime less favourable by both reducing the exemption and providing for more stringent criteria. Previous foreign tax residence requirement … 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
1. Boundaries to the application of the Italian black-list costs provisions With its decision no. 2960 of 1 February 2024, the Italian Supreme Court ruled that the non-deductibility regime of “black-list” costs under Article 110(9-bis) and ff. of the TUIR cannot be presumptively invoked by the Italian Tax Authorities merely … Read more
1. Beneficial ownership requirements under the Interest&Royalty Directive According to the Italian Supreme Court decision no. 510 and 521 of 8 January 2024: in the context of the Interest&Royalty Directive (Directive 2003/49/EC), the notion of beneficial owner is to be understood as a substantive rule aimed at allocating taxing power, … Read more
Previous rules on tax residence of legal entities Art. 73 of the TUIR stated that companies were considered to be tax resident in Italy if, for the greater part of the fiscal year, alternatively: their legal seat was located in Italy; they were administered in Italy; the main object of … Read more
Previous rules on tax residence of individuals Based on the previous reading of the law (art. 2 of the TUIR), an individual was considered to be tax resident in Italy if, alternatively; was enrolled in the Italian Register of the resident population (AIRE); had his/her domicile in Italy, being the … Read more
1. Increase of the Italian estate taxes on foreign assets Law no. 213 of 30 December 2023 (Budget Law for 2024) provided for an increase in estate tax rates on foreign properties. In particular, as of 2024, IVIE’s rate increases from the previous 0.76% to 1.06%; IVAFE’s rate increases from … Read more
The deadline for sending the substitute declaration for the advertising investments made in 2019 will expire on January 31st 2020, in order to benefit from the related tax credit. In this regard, it should be noted that the facility in question is governed by: Article 57-bis, paragraph 1, of Decree … Read more
Legislative Decree no. 124 of October 26th, 2019 (Tax Decree), which accompanies the 2020 Budget Law, has been published in the Official Gazette and is already in force. Following the approval of the Council of Ministers on October 16th, 2019, a number of important changes have been introduced into the … Read more
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