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Category: Taxes

Italian income tax
Taxes

Taxes in Italy 2022

The Italian income tax is called IRPEF “Imposta sul Reddito delle Persone Fisiche”, and it is based on progressive tax rates. Each region and municipality can add a surcharge based on the same income as IRPEF. Each Region and Municipality has different rates. The national IRPEF is based on brackets ranging from 23% up 43%,

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Inheritance and Gift tax in Italy

Nothing is certain but death and taxes. This is one of the most used quotes by tax accountants and finance professionals to describe the common habit of Western societies to finance their public spending through taxes. You pay tax when you make money, when you spend it, you pay tax on your savings, and also

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Financial income tax
Taxes

Financial income tax in Italy

Financial income is taxable in Italy, those income sources are taxed at different tax rates compared to the regular IRPEF brackets. It is therefore important to divide such income sources in the following income sources: Interest and dividendsCapital gains and capital lossesOther financial income  Interests and dividends taxation Interest and dividends are taxable at a

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Codice Fiscale
Taxes

Italian Codice Fiscale

The Codice Fiscale is the Italian tax identification number and it is used for multiple purposes beyond identifying taxpayers for paying their taxes when they fall due. The Codice Fiscale is a string of 16 letters and numbers that identifies each natural person, and this has to be used for multiple daily activities in Italy.

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Italian property tax
Real Estate

Property tax in Italy

Property ownership is taxed at purchase, at ownership, and at sale. It is therefore essential to understand the various taxes involving the properties in Italy and how to pay them. Property tax at purchase Once you buy a property in Italy you are required to pay property tax. There are different taxes involved in the

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Italian wealth tax
Taxes

Wealth tax in Italy

The Italian tax system also includes wealth tax for assets held by Italian residents. Since 2012, the 0.2% IVAFE (tax on foreign held assets) and 0.76% (tax on foreign real estate) have been introduced in the Italian tax system. Every Italian tax resident who owns assets overseas is required to disclose the value on December

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Will and inheritance
Taxes

Will and Inheritance in Italy

Becoming a resident of Italy will also impact your estate. What happens if you die in Italy?  You should take this question seriously, and find out the consequences of dying in Italy. Which law is applicable if you die in Italy? Prior answering this question, it is important to understand where the deceased had his/her

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Italian social security
Taxes

Social Security in Italy

The Italian Social Security system is administered by the INPS. Describing the INPS, and its duties, in a short article is quite complex, however we try to provide you a good outline of the Social Security system of Italy. INPS has the second largest budget (second to the government only), and it is the administration

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