March 25, 2016
The Italian Supreme Court has released Judgment n. 4482/2016 stating that the inheritance tax is due in the measure of 8% when the Trust is self-declared (i.e. when the settlor appoints himself as a trustee and beneficiary).
The Judgment is consistent with the guidelines already provided by the Italian Tax Authority in several Memoranda.
For any further information feel free to contact us.
March 8, 2017 The Inland Revenue has published the Regulations and the Instructions for “new residents” flat tax regime. The aim is to attract and encourage the transfer of the residence in Italy of high net worth individuals, or people with a high heritage. Such option must be exercised in the tax return, provides for the payment of a substitute tax on foreign income, equal to Euro 100,000 for each fiscal year for which it…
September 7, 2016 The Italian Supreme Court, by sentence n. 17646 dated September 6, 2016, clarified that conventional remunerations on employment income are allowed only for tax purposes, denying the application of such remunerations for social security purposes in case employees are assigned to Countries which have signed a Totalization agreement with Italy. Such opinion, which clashes with previous Court’s jurisprudence, confirmed the approach of many multinational companies which have seconded employees outside of Italy…
March 13, 2015 The Italian Tax Authority releases Memorandum n. 10/E dated March 13, 2015, containing the guidelines about the Voluntary Disclosure procedure, clarifying the application field, the fulfillments, the application range and related penalties. For any further information, please contact us.
06/03/2015 The Italian tax authority, in Memorandum n. 9/E dated March 5, 2015, provides important guidelines on the foreign tax credit calculation, commenting on the necessary documents in order to prove its entitlement and on the concept of “final tax”, recalling the law principles as well as previous comments released by the Italian authorities. For any further information, please contact us.
