![]() ![]() Stamp duty is levied on legal and banking transactions at varying rates. ![]() For capital gains on the disposal of shares, see “Rates,” below. Gains derived from the sale of a principal residence are not subject to tax. Capital gainsĬapital gains derived by an individual on the disposal of Italian immovable property generally are taxed as miscellaneous income, but are exempt from tax if the individual held the property for more than five years. Individual income tax is imposed on employment income, income from independent activities, income from capital, business income, income from immovable property and other miscellaneous income. family charges, medical expenses) are available in calculating taxable income. Deductions and allowancesĭeductions for dependents, employment income, social security contributions and other specific expenses (e.g. The personal income tax is progressive, rising to a top rate of 43% for income exceeding EUR 75,000. OtherĪn additional 3% solidarity surtax on income exceeding EUR 300,000 is payable until the 2017 fiscal year. Joint filing is possible under specific circumstances. ![]() Residenceįor income tax purposes, an individual is deemed to be resident if he/she is registered at the civil registry or is domiciled in Italy for more than 183 days in a year. Residents are taxed on worldwide income nonresidents are taxed only on Italian-source income. Personal taxation puts Milan in position 207 of all Teleport Cities. ![]()
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