· Decrease in rate of individual income tax for the first two income group brackets:
1. from 23% to 22% for income up to EUR 15,000, and
2. from 27% to 26% for income between EUR 15,001 and EUR 28,000.
3. Applicable from July 1, 2013, reduced raise in standard VAT rate from 21 % to only 22%, and similarly for VAT rate reduced hike from 10 % to 11 %.
4. For individuals, maximum limit of tax credit set at EUR 3,000 for eligible expenses.
More details would be available shortly. For more information about Italy’s taxation laws or doing business in Italy please call or email us.
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