Starting a short term rental business in Italy: tips and suggestions
Italy is typically associated with its idyllic landscapes, its renowned cuisine, as well as its contributions to the worlds of art and fashion. However, with its strategic location and its receptive attitude towards globalization, Italy has become more than just a tourist’s dream, opening up its doors to a wide range of foreigners who are looking to work or do business in Italy.
File your taxes in Italy in 2020: tips and deadlines
Just like every year, the Italian tax season is approaching fast, and we are facing new updates and changes from past years.
Filing taxes and assessing your tax liability (or refund) might be confusing and nerve wracking, however, this article sheds some light on the matter.
For any purchase or transaction carried in Italy a VAT tax is applied.
The IVA, VAT in Italian, is around 22% but it can vary according to the goods or services you buy. For all the info about this tax, read our article about sales tax in Italy.
The Corona virus crisis hit the global economy hard, and the 2020 Global GDP forecast shows a strong contraction, and due to that many businesses in Italy, and globally, are facing cash crunches and financial difficulties.
The sales tax in Italy or VAT, is called IVA (Imposta sul valore aggiunto) and it is 22% of any taxable sales, including raw materials.
All businesses must collect this Value Added Tax on behalf of the government, pay it quarterly or monthly (depending on the annual VAT turnover) and file the quarterly VAT return.
Are US pensions taxed in Italy?
Do you live in the US and you are planning to retire in Italy?
Are you a retired person from the US and you start to live in Italy? Are you an American retired and you spend some months of the year in Italy?
Read this article and figure out if your US pension is taxable in Italy.
The main income tax rate in Italy, is the personal income tax called IRPEF, which stands for “imposta sui redditi delle persone fisiche”.
It is divided into three levels (national, regional and municipal) and it varies according to the time you spend in Italy, your income, and where your revenues come from.
After moving back to Italy from the United States in 2013, I realized how much an accounting and tax firm was needed to help expats living in Italy to comply with the local tax regulations.