The Power of Attorney in Italy: what can lawyers do in Italy with your delegation
Since the Hague Convention, in October of 1961, abolished the Requirement of Legalisation for Foreign Public Documents, verifying legal documents has become easier. This means that any country who signed the convention—all countries that are part of the “Western” world have signed, though many African, Middle Eastern and Asian countries have not—have a simplified procedure for the legal validation of documents through what is called an Apostille, or Hague Apostille, which is provided through one of the various state departments concerned with foreign affairs (i.e. the US Department of State, UK Foreign and Commonwealth Office, or the Australian Department of Foreign Affairs and Trade).
Italian custom import duty: a useful guide
Italy's membership in the European Union has greatly influenced its tariff structure. Duties on imported goods disappeared between Member States by 1986. Since then, this has also resulted in a substantial reduction of duties on products imported from areas outside of EU countries, including the United States.
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.
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.
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.
VAT is a complex tax; this post tries to explain the VAT implication for you and your business. This post is not meant to be comprehensive of all the VAT legislation, and it does not consider any special tax regime.
Tax deadlines in Italy in 2017: when are due and what you risk in case you miss them
Are you resident in Italy and have any income or assets abroad? If so, you need to file your taxes! Don't miss the last deadline and avoid any penalty.
Italy is largely known for its high level of general taxation; however, some tax rates are sensibly lower than those applied other OECD Countries.
Read the full article to understand the Donation and Inheritance tax in Italy!
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.