Just like every year, we are approaching the tax season in Italy; filing taxes and assessing any tax liability (or refund) might be confusing and nerve wracking.
I hope to clear some doubts about filing taxes in Italy.
Who has to file taxes?
Not everybody has the obligation to file taxes. Some individuals are exempt from filing taxes:
I am not an Italian resident, should I file taxes?
Taxes shall be filed and paid whether an individual is resident or not, the filing obligation depends on the income generated and not on the citizenship nor residency requirements.
Italian residents are taxed on the WORLD INCOME, while non residents are taxed on the INCOME PRODUCED IN ITALY.
Which tax module should I file?
Individuals in Italy can pay taxes using two modules:
Which are the deadlines?
Mod. 730 requires taxes to be filed before July 7th.
Mod. UNICO requires taxes to be file before October 2nd.
How long is the Italian financial year?
The Italian financial year starts January 1st and ends December 31st; therefore, in 2017 we file taxes on 2016 income.
Which deductible items can I claim?
The Italian tax code allows individuals to recover deductible items paid during the fiscal year. The following list focuses on the most common deductible expenses:
What about foreign assets?
Italy requires its residents you to declare some financial instruments and properties held outside Italy. The following items have to be declared:
How can Accounting Bolla help you?
Accounting Bolla knows that you are busy and taxes normally do not fit into your schedule. Just take 15 minutes to fill this form and we will get back at you with a quote and the supporting documents required.
This is an online service! File your taxes from the comfort of your own house!