Category Taxation in Italy

Italy’s Tax Amnesty Proves Successful

December 10, 2015 Taxation in Italy

ROME – Italy’s latest tax amnesty is paying dividends, and is expected to bring in billions in recovered taxes, penalties, and interest.

Earlier this week the tax authority of Italy announced that the recently concluded tax amnesty programme will bring in over EUR 4 billion in revenues.

The tax amnesty which was launched last year was concluded on November 30th, attracting 130 000 declarations with a value of EUR 59.5 billion over that time.

The program was intended to encourage disclosure of funds previously hidden overseas, in exchange for partial protection from prosecution and a reduction in the penalties charged for non-compliance.

The amount of unpaid taxes to be recovered from the hidden funds is expected to be approximately EUR 3...

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Italy Eyes New Digital Tax

September 18, 2015 Taxation in Italy

ROME – Italy is looking to implement a new “digital tax” of as much as 25 percent on digital sale made by large online companies to consumers in the country.

In a recent televised interview the Prime Minister of Italy Matteo Renzi suggested that within two year the country would see the implementation of a tax on the sale of digital goods or service in Italy, regardless of where the seller is registered.

The Prime Minister called the proposal a “digital tax”, and specifically noted Apple and Google as targets of the new measure.

No specifics were revealed regarding how the tax will be levied, simply stating that “…we envision a digital tax that will be applied through different mechanisms, to make companies pay taxes in the place where agreements and transactions are made.”

No ...

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Pope Calls on Churches to Lose Tax Exemptions

September 17, 2015 Taxation in Italy

VATICAN – The Pope is calling on churches in Italy to take house refugees or lose their lucrative tax-exempt status.

In a new interview aired by the Portuguese Catholic media outlet Ranascenca, Pope Francis has called for religious groups to lose their tax benefits if they do not use their resources to aid the poor.

The Pope noted that churches in Italy often use their facilities to run hotel and similar accommodation for a profit, however, these facilities could also be converted to house poor families or refuges.

He went on to say that if the churches run their facilities for a profit, then they should be required to pay income taxes like a normal business.

Currently, churches in Italy are exempt from income earned on accommodation, if the accommodation question has an attached church.

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Local Council Revenues Jump in Italy

August 3, 2015 Taxation in Italy

ROME – Local councils are seeing an increase in revenues in Italy, especially in larger cities.

According to new information released by the Court of Audit of Italy recently, the tax revenues collected by local councils over the three years between 2011 and 2014 grew by approximately 22 percent.

In 2011 the average taxpayer in Australia paid approximately EUR 505.50in local taxes, however, by 2014 this annual amount had risen to EUR 618.40.

The increases in taxes collected resulted in a boost to tax revenues of approximately EUR 8 billion compared to 2011.

Taxpayers in larger towns and cities paid a higher amount of taxes each, especially individuals from towns exceeding populations of 249,000, while taxpayers in smaller towns paid a lower level of tax.

The increase in tax collections w...

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Art Used to Pay Tax in Italy

October 14, 2014 Taxation in Italy

ROME – Taxpayers in Italy will soon be able to settle their tax bills by donating artwork, books or historic villas.

Over the weekend the Minister of Culture and Tourism of Italy Dario Franceschini announced that a new panel has been established to determine the value of artworks submitted to the government by taxpayers as a means of paying tax obligations.

The government has allowed taxpayers to meet their payment obligations by donating artwork since 1982, however, the process is not commonly used in recent years, and has never been applied by authorities or taxpayers with “any conviction”.

It is hoped that the establishment of a concise valuation method will revive interest in the possibility.
Under the revived program, tax authorities will accept historic art pieces, contemporary...

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