International Tax

Business Operations in Italy (Portfolio 7190)

  • This Portfolio is designed to provide an introduction to Italian business life, including the requirements that must be met and principal problems encountered in making investments, and in particular the establishment and operation of commercial interests in Italy.


This Portfolio includes an analysis of the tax on corporations, the tax on individuals and, in general, all taxes imposed on business firms and investments. It presents the various alternatives under Italian law for creating fixed business relationships in a more concrete form than mere contract, distribution, or agency relationships. Each form of business organization is summarized and particular attention is paid to the tax system, which has an important impact on Italian business operations.

The foreign exchange laws and foreign investment laws, which are significant to anyone wishing to introduce capital into Italy for investment purposes, and the mechanisms and characteristics of the more important corporate forms are explained to provide potential investors with a better understanding thereof.

Additionally, there is a brief discussion of the provisions of the Italy-United States Tax Treaty.

Table of Contents

I. Introduction
II. Business Regulations and Practice
III. Forms of Business Entities
IV. Principal Taxes
V. Taxation of Resident Corporations
VI. Taxation of Nonresident Corporations
VII. Branch Taxation
VIII. Taxation of Partnerships and Small Businesses
IX. Regional Tax on Productive Activities
X. Income Taxation of Resident Individuals
XI. Income Taxation of Nonresidents
XII. Inheritance and Gift Taxation
XIII. Stamp Tax
XIV. Registration Tax
XV. Tax on the Increase in Value of Real Property
XVI. Value Added Tax
XVII. Inter-Company Pricing
XVIII. Taxpayers’ Bill of Rights
XIX. Tax Treaties

Christine Marciasini
Pirola Pennuto Zei & Associati
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