Tax residence of legal entities

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

Tax residence of individuals

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

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INTERNATIONAL TAX FOCUS – 1/2024

Ciccioriccio-Associati-PDF-Tax-Alert

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 the … Read more

Fiscal decree accompanying the Budget Law 2020

Fiscal decree accompanying the Budget Law 2020

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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From Accountants and Confindustria 50 proposals for tax simplification

Simplification of legislation, rationalisation of compliance and a more balanced relationship between tax authorities and taxpayers. The document containing the proposals for tax simplification drawn up by Confindustria and the National Council of Accountants and presented yesterday in Rome moves along these three lines. Fifty proposals covering five macro-areas: VAT … Read more

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Taxes: balance and advance payment to be paid by 30 September 2019

It should be remembered that for subjects who carry out economic activities for which the summary indices of fiscal reliability (ISA) have been approved and that declare revenues or fees of an amount not exceeding the established limit, the terms of the payments resulting from the tax returns, from those … Read more

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Advertising bonus, applications by 31 October

Companies, self-employed persons and non-commercial entities, from 1 to 31 October 2019, may submit applications to book the advertising bonus for investments made or to be made in the year 2019. As from 2019, the tax credit is recognized in the single measure of 75% of the incremental value of … Read more

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New tax regime for impatriate workers

The Growth Decree (Legislative Decree no. 34/2019) provides for important measures to strengthen the tax regime introduced by Article 16 of Legislative Decree no. 147/2015, applicable to impatriate workers who transfer their residence to Italy from 1 January 2020. The percentage of exemption for the income produced in Italy is … Read more

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From 2020 it is possible to sell the quarterly VAT credit

The “Growth” decree (Legislative Decree no. 34 of April 30th, 2019, converted into law no. 58 of June 28th, 2019) provides that, as of January 1st, 2020, it will be possible to assign, in addition to the VAT credits resulting from the annual declaration, also the credits accrued on a … Read more

Categories Tax