The Italian tax authority is coming to the aid of those who “forget” to pay their taxes. In an unusually generous move, late payers now have an extra 14 days to pay any Italian tax due (IRPEF, VAT, INPS non mutuati), provided they also pay a “mini-fine” of 0.2% for each day of delay.
There are scammers in every country and Italy is no exception. Here at the Studio Del Gaizo Picchioni we keep a constantly updated list of scams notified to us by our clients. We’re sharing the top ones with you below.
If you’re a tax payer in Italy then you’ll be used to hearing many Italian accountancy terms used by your commercialista. Some of these unknown expressions can be confusing to a non-Italian and you may not always want to ask, so we’ve written a series of articles to help you.
More news is filtering through about the replacement for the Italian tax ICI. The general timetable for payments is similar to that for ICI, with payment due in two equal instalments.
It’s so rare to find something positive to talk about these days, we have to make the most of it. A new “social card” is being experimented in the major Italian cities. The card is given to the very poorest families with a credit which they can use to buy groceries and pay utility bills.
For those of you who don’t know, RW is the section of the Italian tax return which requires you to declare all assets held overseas, both property and investments. The penalties for failing to declare are extremely punitive, resulting in extreme cases to confiscation of the property itself.
Attentive readers will recall that as of January this year, the property tax ICI was replaced by a new tax, IMU. One difference is that the reduced rate of IMU (basically that for the prima casa) will apply “to only one property unit”.
Alert for all those resident in Italy with property or financial interests overseas. The Italian tax authorities have introduced two new taxes on overseas assets: one is on property, so is bound to catch any foreign nationals who maintain properties “back home”.
Has it always been your dream to live and work in Italy? Are you worried about what you hear of the Italian tax system? Well it’s not all bad news.
For any of you who have not made an Italian tax return (and should have) the Italian tax authorities are allowing you until 29th December to file a late return. There is a small fine (25 euro) plus interest to pay on the tax due.