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NOTES ON COMPANY TAX IN ITALY


Tax rates

 Company Tax (IRPEG- Imposta sui Redditi delle Persone Giuridiche)      33%

Local business tax (IRAP- Imposta Regionale sulle Attivita Produttive)     4.25% - 8.5 %

 

Filing of company returns

Annual deadline:  Ten months from the end of the company's tax year.

Payments on account

Payments are based on 99% of the tax liability for the previous year:

• Instalment one (40%) and balance of previous year's tax

Loss relief

Losses arising in the first three financial periods can be carried forward indefinitely.

Subsequent losses can be carried forward for five years.

These notes are for reference purposes only. They are only intended as a guideline and should not be used as a substitute for proper professional advice. Please contact us and we will be happy to assist you.