Taxes in Italy
The Italian Republic is one of the most famous countries in Europe, as it is famous for its sights, cultural heritage, traditions and identity.
The capital of the state is the city of Rome, which is the center of tourism and finance. The population of Italy is 60 people. Located in the center of the Mediterranean and southern Europe, the state has quite favorable conditions for conducting commercial activities and business.
Italy is a developed European jurisdiction with a stable economy, which attracts foreign entrepreneurs and companies to open firms on its territory. With all the attractiveness, taxes in Italy are among the highest in Europe.
However, the country has special loyalty programs for businesses. The most developed sectors of the economy in the country are:
- Agriculture;
- textile production;
- light, food, petrochemical, metallurgical and other industries;
- mechanical engineering;
- tourism.
The E-COMMERCE BROKER company provides comprehensive assistance and support to those who decide register a company in Italy. We will provide you with a free consultation, from which you will learn about all the intricacies of the Italian tax system.
Professional support from the E-COMMERCE BROKER Company
Companies conducting commercial activities must not only register a business in Italy, but also open a European bank account. In order for everything to go smoothly and in compliance with the legislation in force in the jurisdiction, you should seek professional help from the specialists of the E-COMMERCE BROKER Company.
We will help you quickly go through all registration stages, and also provide consulting support on any financial issue. With us, you can be sure that your Italian business will develop efficiently and bring profit.
Italian tax system
The Italian tax system includes more than 40 types of fees. At the same time, the country’s state budget is formed by 80%:
- income tax (federal and regional);
- VAT.
- Income tax.
Legal entities engaged in business in Italy are subject to two types of income tax:
- IRES is a standard income tax with a rate of 24%. It is paid by foreign resident organizations that have a registered legal entity in Italy and are managed from its territory, non-residents - companies that are registered in another country, but receive income from activities in Italy;
- IRAP is a mandatory production duty. The average percentage is 3,9, but the rate may vary depending on the type of activity.
The tax base for residents is all income received both in this jurisdiction and in other states. Non-residents pay tax only on Italian income.
- VAT.
The standard value added tax rate is 22% and is one of the highest among other European jurisdictions. Reduced interest rates apply for some categories of goods and services:
- 10% on electricity, certain types of medicines;
- 4% for food, beverages and agricultural products;
- 0% on export transactions carried out outside the European Union for education, insurance, hospitalization and medicine services.
- Other types of taxes:
- for capital gains - 27,5%;
- on dividends and interest paid to a non-resident - 20%, royalties - 22,5%.
Help with taxes from E-COMMERCE BROKER
At E-COMMERCE BROKER you can count on assistance in the following operations: business registration in Europe, opening a European bank account, tax consulting, obtaining licenses.
