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Stories that are tagged 'Italy'

Italy Explains New Local Property Tax
5/24/2012
The Italian Treasury has issued a circular which attempts to explain the complex regulations surrounding the introduction of IMU, the new unified local property tax, which formed the major revenue-raising measure within the government’s ‘Save Italy’ budget finalized in December last year.
Monti Defends Italian Tax Collectors
5/18/2012
In his remarks during a meeting with the management of the Italian Revenue Agency and Equitalia (which collects the country’s taxes), the Italian Prime Minister Mario Monti emphasized that it had to be recognized that the payment of their taxes was everybody’s duty, before it could be possible to reduce the overall tax burden.
Italian Property Tax Slammed As 'Odious And Inequitable'
5/17/2012
Niccoló Rinaldi, head of the Italian opposition party, Italia dei Valori, in the European Parliament, has described the new Italian tax on the value of overseas properties and financial assets as only the latest in a long line of attacks on the finances of Italian expatriates.
San Marino Urged To Consider New Economic Model
5/11/2012
Despite a 15% decline in tax revenues in San Marino over the past two years, authorities have been able to maintain a comparatively low deficit. However, the most significant challenges relate to the stability of the nation's banking sector, which has suffered capital flight as tax transparency initiatives gain ground, a new International Monetary Fund report says.
Restrictions On Italian Private Tax Collectors Declared Illegal
5/11/2012
The Court of Justice of the European Union has decided the Italian provision that private operators should have a share capital of at least EUR10m in order to be entitled to collect local taxes is contrary to European law on freedom of establishment and freedom to provide services.
Italy, Switzerland Agree To Tax Talks
5/11/2012
Following the recent positive developments with regard to the tax treaties between Switzerland and various European Union member states, a meeting held on May 9 between Swiss and Italian officials has agreed to the establishment of a working group to resolve the outstanding tax problems between their two countries.
Italy Hopes To Avoid Future VAT Increase
5/3/2012
In recognition of the need to reduce public expenditure as much as possible so as to contain taxpayer burdens, the Italian government has announced the framework of a spending review to be undertaken in the next month.
US Issues Annual IPR Country Report
5/3/2012
The Office of the United States Trade Representative has released its annual ‘Special 301 Report’ on the perceived adequacy and effectiveness of US trading partners’ protection and enforcement of intellectual property rights (IPR).
Further Attacks Launched On Italian Tax Evaders
5/1/2012
Following an announcement by the Italian financial police, Guardia di Finanza, that it has already uncovered substantial amounts of undeclared income in the first four months of 2012, the Italian Revenue Agency launched countrywide anti-evasion checks during the May Day holidays.
Di Pietro Calls For Tax Treaty With Switzerland
5/1/2012
Antonio di Pietro, the former anti-corruption magistrate and present leader of the Italia dei Valori opposition party, has written in his blog that the Italian government should now be looking to garner the EUR40bn (USD53bn) in tax revenue that could be available by concluding a tax treaty with Switzerland.
Bermuda Signs TIEAs With Italy, Malaysia
4/27/2012
Bermuda Premier Paula Cox on April 23 signed additional tax information exchange agreements with Malaysia and Italy in London.
Italian Government Urged To Reduce Tax Burden
4/25/2012
While the Italian government has stressed that there will be no need for new taxes in a further budget this year, the Court of Auditors and the Bank of Italy, in their testimony to the Chamber of Deputies on the recently-issued 2012 Economic and Financial Document, have emphasized, instead, that tax burdens have to be reduced as soon as possible.
Italy Has No Plans For Wealth Tax
4/25/2012
In his testimony to the Italian Chamber of Deputies’ economic and finance committee, the Deputy Economy Minister Vittorio Grilli confirmed that the government has no plans to introduce a wealth tax, or any other new taxation, in a further budget.
Italian Tax Burdens Rise As Economy Stalls
4/20/2012
In its 2012 Economic and Financial Document, the Italian government has reduced its economic growth forecasts for this year, admitted it will not be able to eliminate completely its fiscal deficit next year, and released figures showing further increases to the already-onerous burden on Italian taxpayers.
Monti Produces Future Italian Fiscal Framework
4/18/2012
The government has agreed the draft of a law, to be subsequently approved by parliament, which would provide the framework for tax reform in Italy, but which, in fact, is more notable for what is does not, rather than for what it does, contain.
Italy Delays Transaction Reporting For Banks
4/18/2012
The Italian Revenue Agency has delayed the obligation on banks and other financial institutions to identify transactions subject to value-added tax and of an amount over EUR3,600, that will have to be electronically reported to the tax authorities as part of the government’s efforts to increase tax compliance.
World Economic Forum Issues Global ICT Report
4/6/2012
The World Economic Forum, in collaboration with INSEAD, has issued the Global Information Technology Report for 2012, which is said to be the most comprehensive assessment of the preparedness of global economies to leverage the networked economy.
South Korea, Italy Sign TIE Protocol
4/5/2012
A protocol to the existing double taxation agreement between South Korea and Italy was signed on April 3, and is expected to take effect in the first half of this year.
Italy's Compliance Drive Paying Off
4/2/2012
An Italian Revenue Agency statement has illustrated the much improved results it achieved last year from its two-prong strategy of targeted tax compliance measures and more-efficient services for taxpayers.
Canada's Amended DTAs Enter Into Force
3/30/2012
Canada's updated tax treaties with Italy and Switzerland have entered into force, agreements the Finance Minister said will strengthen the country's tax system.
ECJ Agrees Italian Tax Dispute Time Limitation
4/2/2012
The European Court of Justice has given its preliminary ruling that the conclusion without further examination of tax proceedings pending before the Italian Corte Suprema di Cassazione and Commissione Tributaria Centrale, which were brought more than 10 years ago, is compatible with European Union law.
Italy Boasts New Weapon In War On Evasion
3/22/2012
The Italian Revenue Agency’s Director, Attilio Befera, has announced that its new, revamped ‘redditometro’ – the computer data system which compares taxpayers’ income declarations with their spending habits – is now expected to be fully operational by June this year.
EU Consults On State Support For Film Finance
3/21/2012
The European Commission has launched a consultation on the state aid criteria it proposes to use to assess proposals from member states to provide tax relief and other concessions to film financiers.
Jersey Signs Tax Data Sharing Pact With Italy
3/14/2012
The Jersey government on March 13, 2012, signed a bilateral agreement with Italy to exchange tax information on request in accordance with the Organization for Economic Cooperation and Development's internationally-agreed standard on tax transparency and information exchange.
EU Divided Over FTT
3/15/2012
Despite months of ongoing discussions, Europe remains divided and seemingly no further forward on the controversial issue of a financial transactions tax.
OECD Report Tackles Aggressive Tax Planning
3/8/2012
The Organisation for Economic Cooperation and Development has announced the launch of its latest publication, aimed at aiding governments to tackle the use of aggressive tax planning.
IMF Spells Out San Marino's Fiscal Challenges
3/8/2012
With San Marino adopting tax transparency, the territory now faces significant challenges in stabilizing the country's banking system and implementing structural tax reforms to provide stable tax revenues, the International Monetary Fund says.
Italian Tax Inspectors Blitz Courmayeur
2/22/2012
Tax inspectors from the Italian Revenue Agency have again taken to making spot checks, this time at Courmayeur, to check whether its shops, restaurants and bars, even those on the ski slopes of Mont Blanc, are issuing the necessary tax receipts.
EU Court Questions Italian Gambling Licensing Procedures
2/20/2012
The European Court of Justice has provisionally found that European Union law precludes national betting and gaming legislation, such as that in force in Italy which requires a minimum distance between betting outlets, where the aim is to protect the market position of existing operators.
US To Cooperate With EU Countries On FATCA
2/10/2012
The United States Treasury Department and the Internal Revenue Service have issued proposed regulations for the next major phase of implementing the Foreign Account Tax Compliance Act, which also includes a joint statement with France, Germany, Italy, Spain and the United Kingdom on a possible government-to-government framework for information exchange.
EU 'Core' Presses For FTT
2/9/2012
French Finance Minister François Baroin has announced that nine European countries have recently addressed a joint letter to the Danish Presidency of the European Union calling for work to be accelerated on European plans for a tax on financial transactions.
FTT Will Hit UK Revenues Even With Opt Out
2/8/2012
David Cameron's refusal to sign a new European Union deal will not shield the UK from the impact of a financial transaction tax, Ernst and Young has said.
Tide Turning In Italian Tax Evasion Fight
2/3/2012
During his testimony to the Chamber of Deputies’ Finance Committee, the Director of the Italian Revenue Agency, Attilio Befera, pointed to the Agency’s new ability to crosscheck taxpayers’ spending against declared incomes as the weapon that might win the government’s war on tax evasion.
Danish Presidency's Fiscal Priorities Don't Include FTT
1/27/2012
Denmark’s Economic and Interior Affairs Minister Margrethe Vestager recently explained to the European Economic and Monetary Affairs Committee that the key priorities for the Danish Presidency of the European Union Council of Ministers are increasing surveillance of budgetary policies, and the economic and fiscal surveillance of eurozone member states facing serious financial instability.
Italy Confirms Anti-Evasion Cash Transaction Limit
1/20/2012
As presaged within the anti-tax evasion provisions of the Italian government’s recent ‘Save Italy’ budget, the Ministry of the Economy and Finance has issued the relevant procedures to give effect to the restriction of using cash to transactions of less than EUR1,000.
Italy Backs EU Financial Transactions Tax
1/16/2012
Italy, under the new leadership of Prime Minister Mario Monti, has voiced support for the introduction of taxes on European financial transactions.
Monti Seeks To Squash Italian Tax Evasion Culture
1/12/2012
The Italian tax authority has very publicly embarked on a raid of Cortina d'Ampezzo, one of Italy's most exclusive ski resorts, to demonstrate that Mario Monti's new government is taking a hard-line approach to tax evasion by actively challenging individuals and service sector companies that historically have significantly under-declared earned income.
Sarkozy Seeks To Steer Merkel On 'Tobin' Tax
1/11/2012
Ahead of a crucial European Council meeting on January 30, and determined to gain much needed ground in the run up to the presidential elections in France in April, French President Nicolas Sarkozy advocated accelerating implementation of a tax imposed on financial transactions, during his meeting with German Chancellor Angela Merkel in Berlin on Monday.
Business Aviation Sector Urges Carbon Tax Rethink
1/10/2012
While welcoming the use of market-based measures to support carbon emission reduction efforts, the association that represents business aviation operators in Europe has warned that revisions are needed to the EU Emissions Trading Scheme to ensure that it does not discriminate against small operators.
UK VAT Hike Still Squeezing The Pocket
1/4/2012
The UK's value added tax rise added 1 percent to the level of prices in 2011, the accountancy firm PwC has calculated.
Italy Imposes Tax On Instant Lottery Winnings
1/3/2012
Following their misfortune in suffering the heavier taxation imposed by the latest ‘Save Italy’ budget introduced by the new Monti government, Italian taxpayers have now found out that, arising from a measure within last August’s Berlusconi government budgetary package, they are also liable to be taxed if they have a little good luck in the future.
Italian Revenue Agency Fixes Deadline For Transaction Reporting
1/2/2012
The Italian Revenue Agency has clarified that the electronic reporting of consumers’ card transactions by the country’s financial institutions, as part of the government’s efforts to increase tax compliance, should be done by end-April each year.
120,000 Italians Settle Small Tax Debts
12/29/2011
In accordance with the tax administration provisions of the Italian budget approved in July 2011, 120,000 taxpayers have taken the opportunity to settle their small tax debts with the Revenue Agency.
'Save Italy' Budget Is Approved
12/27/2011
As expected, the Italian Prime Minister Mario Monti has obtained the approval of both houses of parliament for his ‘Save Italy’ budget, which has suffered few modifications, except for those previously agreed by the government.
Monti Agrees Changes To Italian Budget Measures
12/16/2011
While Prime Minister Mario Monti had previously stressed that there was little room for changes to Italy’s latest budget, the final version of the bill currently going through parliament does include modifications agreed by the government, which are said to make it more 'equitable'.
Italian Tax Man Renews Agreement With Soccer Clubs
12/14/2011
The Italian Revenue Agency has signed a protocol with the Italian national football federation which will renew, until February 28, 2013, regulation and control over the tax affairs and fiscal compliance of the clubs within the football federation’s ambit.
Few Changes Expected To Italian Budget
12/8/2011
Prime Minister Mario Monti has stressed that there is very little room, if any at all, for unfunded changes to Italy’s latest budget during its passage through parliament, if the target of bringing the Italian budget back into balance by 2013 is to be attained.
OECD Praises New Italian Government's Tax Plan
12/7/2011
The Organization for Economic Cooperation and Development has welcomed the austerity measures proposed by the incoming Italian government as ambitious enough to calm markets' concerns on the nation's debt trajectory.
Italy Suffers Another Austerity Budget
12/6/2011
Following the previous austerity budgets of the Berlusconi government earlier this year, which had the target of bringing the Italian budget back into balance by 2013, the new government, headed by Mario Monti, has now announced a further package of measures in an attempt to provide additional reassurance that the target will be reached.
Rehn Praises Italy's Fiscal Reforms
12/2/2011
A broadly favourable report has been given to the Italian government’s existing deficit-reducing measures by a review team led by Olli Rehn, the member of the European Commission responsible for Economic and Monetary Affairs.
Revised Italy-Canada DTA Finally Comes Into Effect
12/1/2011
The revised double taxation agreement between Canada and Italy, originally signed on June 3, 2002, entered into force on November 25, 2011.
Italy Taken To EU Court Over Ship VAT Exemptions
11/25/2011
The European Commission has decided to refer Italy to the Court of Justice over the terms of the value-added tax exemption it grants to ships.
Monti Puts Forward Italian Tax Policy Framework
11/22/2011
Mario Monti, the new Italian Prime Minister and Economy Minister, has won confidence votes in both houses of parliament for his government’s future reform programme which, it is hoped, will strike the right tone for the financial markets, but is short of much detail.
Italy Passes Austerity Budget
11/15/2011
The Italian parliament has passed the country’s latest austerity budget, as required by the European Commission, but the package of approved measures contained none of the key tax measures that could now be needed to encourage economic growth.
EU Asks Italy To Comply With VAT Rules
10/28/2011
Within the programme of the European Commission to ensure that European legislation is fully and properly implemented, it has requested Italy to implement European Union value added tax rules, and to pay due amounts of customs duties to the European budget.
Italy Introduces New Taxpayer Compliance Database
10/28/2011
The Italian Revenue Agency has announced that its new, revamped ‘redditometro’ – the computer data system which compares taxpayers’ income declarations with their spending habits – will be fully operational from end-February next year.
G-20 Nations Failing To Honour Protectionism Pledges
10/27/2011
Disappointingly weak growth in some G-20 members is testing the political resolve of many governments to resist trade protectionism, says a new report from the World Trade Organization, the United Nations and the Organisation for Economic Cooperation and Development, which examines trade and investment measures implemented in the third quarter of 2011.
Italy Referred To ECJ Over Maritime Aid Scheme
10/20/2011
The European Commission has referred Italy to the European Court of Justice for failing to comply with a 2007 Commission decision, which found an aid scheme for Sardinian shipping companies incompatible with EU state aid rules.
Further Call For Indirect Tax Switch In Italy
10/17/2011
With the government’s own proposals in danger of being overshadowed by political events, the President of Assonime (the association of Italian limited companies), Luigi Abete, has suggested a revenue-neutral tax reform package to encourage growth back into the Italian economy.
Italian Banks To Draft Tax Code Of Conduct
10/14/2011
The Italian banking authorities, together with the country's banking industry associations, have agreed to develop a code of practice for Italian banks to tackle the issue of tax avoidance.
Italian Government Watchdog Criticizes Tax Reforms
10/13/2011
In his testimony to the finance committee of the Italian lower parliamentary chamber, Luigi Giampaolino, the President of the Italian Court of Auditors, the government spending watchdog, criticized the government’s proposed tax reforms, targeted to increase economic growth, as being uncertain and, in any case, already overtaken by events.
Italian Court Throws Out Offshore Account Holder List
10/10/2011
An Italian court near Turin has adjudicated that the list containing details of foreign account holders taken in 2008 from HSBC in Switzerland cannot be utilized by the Italian tax authorities, as its taking was itself a crime.
Thailand Ranked Top Expat Destination
10/7/2011
Despite ongoing economic turmoil and political unrest in many parts of the world, a preview of HSBC's 2011 Expat Explorer survey shows that expats remain generally happy in their new countries, with Thailand topping the list of the most popular expat destinations.
Huge Variations Seen In Global Corporate Tax Rates
10/3/2011
The tax burden faced by businesses varies greatly from country to country, with a wide tax gap between ‘low tax’ emerging economies and the majority of ‘high tax’ developed nations, according to new research.
Italy, Switzerland Attempt Rapprochement On Tax
9/19/2011
An attempt has been made, during a meeting organised by the Italian Senate’s Foreign Affairs Committee, to unblock the stalled negotiations for a double taxation agreement between Italy and Switzerland.
EU Divisions Entrenched On European Tobin Tax
9/20/2011
During a recent meeting of European Union finance ministers and central bank leaders in Breslau, deep divisions crystallized on the highly controversial idea of Europe proceeding unilaterally with the introduction of a tax levied on all financial market transactions.
Italy Passes Anti-Crisis Budget
9/16/2011
Despite opposition both outside and inside parliament, Italy’s lower Chamber has followed the Senate and approved the same version of the ‘anti-crisis’ budget, with the help of a government-imposed guillotine motion.
Italy Changes Budget Bill, Again
9/9/2011
Following accusations that its ‘anti-crisis’ budget, which has the target of balancing the Italian fiscal deficit by 2013, relied too heavily on uncertain revenue from measures against tax evasion, the Italian government has included further increased taxes prior to the approval of the EUR54.2bn package by the Senate on September 7.
Berlusconi Threatens Future VAT Increase
9/6/2011
In reply to accusations that the ‘anti-crisis’ budget relies too heavily on additional, but uncertain, revenue from measures against tax evasion, Italy’s Premier Silvio Belusconi has replied that his government could always resort to an increase in the rate of value added tax, if necessary.
Bank Of Italy Concerned At Increased Tax Burden
9/2/2011
The Bank of Italy’s Deputy General Manager, Ignazio Visco, in his testimony to the Senate on the measures within the latest ‘anti-crisis’ budget, has questioned its deflationary impact on economic growth and the increase to the tax burden in the country.
Berlusconi Drops 'Solidarity' Tax
8/31/2011
A government coalition meeting on August 29, chaired by Premier Silvio Berlusconi, has agreed that there will be changes to the 'anti-crisis' budget measures which the government has put forward to balance Italy’s budget by 2013.
Italian Opposition Calls For Swiss Tax Pact
8/30/2011
Francesco Boccia, a leading economic spokesman for the Partito Democratico, Italy’s largest opposition party, has urged the government to use the opportunity of the recent Swiss tax agreements with Germany and the United Kingdom to kick-start its own stalled negotiations with Switzerland.
Italian Business Demands Changes To Crisis Budget
8/29/2011
In its testimony to the Senate commission that is reviewing the crisis budget measures put forward by the government to accelerate the balancing of the country’s budget by 2013, Confindustria, the Italian business federation, has said that they need to be improved, so as to reinforce the country’s credibility on the financial markets.
Brazil Hits Telecom Italia With EUR550m Tax Claim
8/26/2011
Within Telecom Italia’s Interim Report, in the section on pending disputes in which it is involved, it is disclosed that, in March this year, its Brazilian mobile services subsidiary, Tim Celular, received a notification of tax assessment issued by the Brazilian tax authorities, totalling almost EUR550m.
Italy Debates More Budgetary Options
8/19/2011
With the Italian parliament being called back from holiday to consider the draft decree containing the 'anti-crisis' budget measures which the government has put forward to accelerate the balancing of the country’s budget, other policies are already being touted to replace its more contentious elements.
Italy, Spain Will Avoid Bailout, Says Rehn
8/16/2011
EU Economic Affairs Commissioner Olli Rehn has sought to assuage concerns that Spain and Italy will require an EU-funded bailout, stating that the countries' economic fundamentals are secure.
Italy Presents Its Anti-Crisis Budget
8/16/2011
In a rapid response to the financial markets crisis, the Italian government has, several days before it was originally expected, produced an additional 'anti-crisis' package to accelerate the balancing of the country’s budget.
Is The EU Heading For Fiscal Convergence?
8/16/2011
With member states fundamentally rethinking the functioning of the European Union, one thing seems certain to emerge from the Eurozone crisis: that proponents of a fiscal union (that countries' budget policies should largely be governed by the EU) have gained significant ground on those that would advocate the continuation of fiscal sovereignty.
Italy To Bring Forward Emergency Anti-Crisis Measures
8/15/2011
The Italian government is in the process of formulating ‘anti-crisis’ measures, to be approved at a ministerial meeting planned for as early as August 16, and then presented to a recalled parliament, which will accelerate the balancing of the country’s budget and will, hopefully, be more acceptable to the financial markets.
Four EU Countries Ban Short-Selling Of Bank Shares
8/15/2011
Given the volatility of European bank shares recently, the European Securities and Markets Authority has announced harmonized action against short selling by the national financial authorities of Belgium, France, Italy and Spain, with effect from August 12, 2011.
Italy Launches Tax Compliance Ads
8/10/2011
The Italian government has introduced a series of television and radio advertisements, carrying the message that those individuals who evade paying their taxes live at a cost to others, and are an expense to everybody.
Italian Revenue Takes Action Against Poker Players
7/21/2011
The Italian Revenue Agency and the Guardia di Finanza, the financial police, are taking action, aptly codenamed 'All In', over the taxable earnings of poker players on offshore media, such as dedicated television channels.
Italian Financial Stability Budget Threatens Tax Reforms
7/19/2011
Having passed through parliament in record time, Italy’s latest budgetary measures, which are aimed at eliminating the country’s fiscal deficit by 2014, were gazetted on July 16, and entered into force a day later.
IMF Urges Italian Tax Reforms
7/14/2011
With fears of eurozone contagion mounting, the International Monetary Fund has urged Italy to ensure decisive implementation of its deficit reduction package and recommended simplification of the tax system as a means of driving down public debt and encouraging economic growth.
Italian Budget Cuts Detailed
7/11/2011
Following the presentation of a modified decree containing the Italian government’s proposed budget reductions, an explanation has been provided of how they should eliminate Italy’s budget deficit by 2014.
Eurostat Notes Rising Consumption Tax
7/7/2011
According to a recent study conducted by Eurostat, the statistical office of the European Union, the global financial and economic crisis has changed the fiscal shape of Europe.
Italian Business Against VAT Rate Hikes
7/6/2011
Ivan Malavasi, the new president of Rete Imprese Italia, which is formed of five associations representing artisans, traders, the tourist sector and other services in Italy, has stressed that the government’s proposed tax reforms should not be realized by penalizing consumer spending.
Italian Small Business Against Any VAT Increase
6/24/2011
During his address to the 2011 general assembly of Confcommercio, the federation representing Italian small and medium-sized enterprises, professionals and sole traders, its President Carlo Sangalli agreed that tax reform was necessary as soon as possible, but not if it involved the raising of the rate of value-added tax.
Prada's Hong Kong IPO Affected By Italian Tax Concerns
6/21/2011
The initial public offering in Hong Kong by the Italian luxury fashion goods company, Prada, has raised less than anticipated, in part due to Italian tax concerns.
Tremonti Looks To Simplify Italy's Income Tax
6/17/2011
While confirming that future Italian tax reforms could not be allowed to affect the government’s commitment to reducing the country’s fiscal deficit, Giulio Tremonti, the Minister of the Economy, has now envisaged a future system with only five taxes and three rates of income tax.
Italian Coalition Continues To Pursue Tax Reforms
6/10/2011
Following a meeting to confirm the cohesion of the Italian government coalition after its recent electoral reverse, the leader of the Northern League Umberto Bossi said that it was now up to the Premier Silvio Berlusconi and the Minister of the Economy Giulio Tremonti to find a way to progress Italian tax reform.
Italians Reach 'Tax Freedom Day'
6/7/2011
CIGA of Mestre (the Italian association of sole traders and small businesses) has calculated that June 5 was the date that Italian workers would have paid all of their taxes and contributions for the 2011 tax year.
OECD Reviews Jurisdictions' Tax Transparency
6/2/2011
The Organisation for Economic Cooperation and Development has released a series of new Peer Review reports, covering the exchange of information for tax purposes, and making recommendations for improvements in this area.
Marcegaglia Gives 'Last Warning' On Italian Tax Reform
5/31/2011
At the annual general meeting of Confindustria, the Italian business federation, its President, Emma Marcegaglia, presented Italian politicians with what she called a “final warning” to come forward with the tax reforms that are a fundamental necessity before the country’s economy can begin a significant recovery.
Italian Maritime VAT Exemptions In Question
5/26/2011
The Italian authorities have received a formal request from the European Commission requiring Italy to amend its legislation to bring it into line with the rules on exemptions for ships laid down in the European Union Value-Added Tax Directive.
Singapore, Italy Agree To Exchange Information
5/26/2011
Singapore’s government has proclaimed that, by incorporating an exchange of information protocol within its existing double taxation agreement with Italy, it is continuing its efforts to counter international tax evasion.
Trade Restrictions On The Rise
5/26/2011
Global trade and investment appear to be facing opposing forces both pushing and pulling against the prospects for economic recovery, as governments attempt to attract foreign investment on the one hand while shielding their economies from foreign competition by raising trade barriers on the other, according to a new report.
S&P Places Italy On Negative Outlook
5/24/2011
The country’s political uncertainty, which has weakened its prospects for economic recovery and increased the perceived risks associated with the government’s fiscal debt reduction programme, has led Standard and Poor’s to lower the outlook on Italy’s credit rating.
Italian Revenue Agency Issues Tax Audit Programme
5/23/2011
Having successfully reached its objectives in 2010, the Italian Revenue Agency has explained, in a recently-issued circular, how its programme for this year will be targeted at achieving further gains in its actions against, and prevention of, tax evasion.
More Time Given To Italian Taxpayers
5/20/2011
According to a decree issued recently by the Italian government, the due dates for the payment of certain taxes have been extended by some three weeks.

 

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