ey-global-tax-policy-outlook-for-2015

Italy
2.3 Tax policy outlook for 2015 — summary
Corporate income tax burden
Personal income tax burden
VAT/GST/sales tax burden
X
Lower No change Higher
X
Lower No change Higher
X
Lower No change Higher
2.4 Tax policy outlook for 2015 — detail
Corporate income taxes
•
the budget law for 2015, which has been published on the
1 January 2015. The most relevant measures contained in
the budget law, aimed at promoting economic growth, are
related to:
• Introduction of a favorable patent box regime for income
generated through the use of certain intangible assets;
in 2015 and 40% in 2016)
•
• Full deduction for regional income tax (IRAP) of labor costs
related to employees hired on a permanent basis
• Restoration of the 3.9% standard IRAP rate; the 3.5%
IRAP rate introduced in 2014 is replaced by the previously
effective rate of 3.9%, with retroactive effect to FY 2014
Taxes on wages and employment
• No changes are anticipated.
VAT, GST and sales taxes
• From 1 January 2015, the VAT rate applied on purchases of
electronic books has been reduced from 22% to 4%.
2.5 Fiscal stimulus in 2015
2.6 Political landscape
•
Renzi and is supported by a coalition of progressive parties.
The next Italian general election will be held before or during
2018.
• Revision of the criteria to identify black-listed countries
• Extension of the voluntary disclosure program
110 | The outlook for global tax policy in 2015