Italian Government Approves Measures for Economic Growth (Sunnyvale, CA) - With an aim to revive its flagging economy, the Italian government plans to address unresolved issues that have held back its economic growth over the past few years. Nair & Co. which provides international tax consulting for companies expanding overseas finds out that a Law decree n. 69/2013 was published in the Italian Official Gazette n. 144 on June 21, 2013. It is further learnt that the diktat came into effect on June 22, 2013. The Decreto del Fare (Decree for Action), aims at approving a new package of urgent measures aimed at restarting the country’s economy. The main tax measures to be addressed by the government include:
Taxpayer’s liabilities collection procedures are likely to see changes; Joint tax liability applicable to procurements and subcontracts of works and services will be amended; The application and the deadline for the payment of the Financial Transaction Tax is to be deferred and
Changes in the Corporate Income Tax (IRES) surcharge applicable to companies operating in the energy sector (Robin Hood Tax) in Italy.
The Parliament has to convert the resolution into an ordinary law in the next 60 days where further amendments can also be passed to spur economic growth. For more information about doing business overseas or to know more about our international tax consulting team please contact us. Subscribe to regular global tax compliance alerts from Nair & Co. International Business Guide (IBG) is our online platform for companies wishing to optimize their multinational operations and would like to have specific business information for doing business in a particular country - Click Here. Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts. About Nair & Co. Nair & Co. provides you with your one touch outsourced finance, HR, legal and global tax compliance department for your international operations. If you are expanding abroad for the first time or increasing your global footprint, our turnkey solutions help you do so with minimal risk, stress and cost. We support 1000+ client operations in over
56 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com Read more on: Global Business Strategy Planning