italian tax rates and allowances
| Income tax (IRPEF) rates for the tax year 2007 | ||
| From (euro) | (To euro) | % |
| 0 | 15,000 | 23 |
| 15,000 | 28,000 | 27 |
| 28,000 | 55,000 | 38 |
| 55,000 | 75,000 | 41 |
| 75,000 | + | 43 |
Tax on
capital gains
| TYPE OF CAPITAL GAIN | TAX RATE |
| Individual- general | 12.5% |
| Company- general | 12.5% |
| Holding in quoted company (Note 1) | 27 % |
| Holding in non-quoted company (Note 2) | 27% |
Note 1: Sale of more than 2% of capital conferring voting rights or more than 5% of issued share capital.
Note 2: Sale of more than 20% of capital conferring voting rights or more than 25% of issued share capital.Indexation allowance
An allowance is given to adjust for inflation between purchase and sale.Relief of capital losses
Capital losses may be offset against gains in the current year, or carried forward for up to 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.
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