Many will welcome the new 2023 Italian Budget Law which, among other things, has brought about an increase in the limit of turnover for those on the Forfettario (flat tax) scheme, taking it from €65k last year to €85k this year.
It is important to note also that, according to the new law, for anyone registered on the Forfettario scheme who exceeds the €85k threshold but does not go over €100k, the flat-tax scheme will cease to apply from the following year. If turnover exceeds €100k though, the scheme will cease to be effective immediately and, in that case, IVA will be due on those transactions that exceed the threshold – this will likely involve some tricky conversations with your clients.
So the takeaways are:
Please let us know if you have any queries about this new rule and the Forfettario scheme generally.
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