Italian News Headlines 07-02-2023 - Opera houses across Italy are staging Verdi operas to raise money to help the Italian government buy the composer's home 'for the nation' --- Italy's exploration ship, 'Laura Bassi', has arrived at the southernmost point of the Antarctic ever reached by a ship --- Italy has achieved a historic double, winning Gold and Silver medals in the European pairs figure skating championships in Finland --- Work on the Appian Way near Rome has uncovered a life-size statue of Hercules, dating to the days of Imperial Rome --- Sofia Goggia has won the downhill ski race in Cortina d'Ampezzo to claim the 21st World Cup win of her career
Tax in Italy, italian tax system

Italian Tax System

If you are a British Expatriate living in Italy, or you are planning to relocate to Italy from the UK, you will need to assess your tax position.

Italy imposes corporate and personal income tax on its residents on their income. Tax rates are on a sliding scale and range from 23% to 43%. If you’re a foreign resident working in Italy, you’re only taxed on the income earned in Italy.

There are reduced rates of tax and tax exemptions available to certain income earners, although careful and meticulous consideration is required. Tax evasion is a huge issue in Italy and the government is working hard to crack down on this.

Taxation on property is very favourable in Italy compared to many other countries. There are no restrictions on foreign ownership. Real estate has two separate measurements: the transaction value (TV) or the cadastral value (CV). CV is generally much lower than TV.

The UK has a double taxation agreement with Italy so that you do not pay tax on the same income in both countries.

If you plan to move to Italy and work, even if you continue working for a UK-based company, you and your employer may need to pay social security contributions in Italy. These social security contributions would entitle you to certain benefits, such as healthcare, in Italy.

You may also be eligible to claim some additional Italian social security benefits.

As always, seek advice from a lawyer familiar with the Italian taxation system.

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Tax in Italy, italian tax system

More Details

President

Sergio Matterella - President of Italy
Prime Minister

Giorgia Meloni - Prime Minister of Italy
State Broadcaster

Public Service Broadcaster - Rai
Financial Authority

Agenzia del Entrate
General Information 2022
Current local time in
Rome, Italy


Population: 60,251,262
GDP: 2 Trillion USD
Interest Rate: 4.53%
Inflation: 11.9%
Currency: Euro (€)
Calling code: +39
Internet TLD: .it
ROMEWEATHER
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