The Italian Parliament has passed and published its 2016 budget law (Law n. 208 of December 28, 2015), which includes new measures regarding VAT in Italy as from January 1, 2016. The new VAT measures include: Extending the reverse-charge mechanism to services rendered to a consortium by its members…
The Italian Revenue Agency (IRA) has published instructions (Prot. N. 2015/154278) (Instructions) for applying the Patent Box regime as well as the first circular letter (n. 36/E of December 1, 2015) (Circular) with important clarifications. The Patent Box regime is an elective tax regime that grants a 50 %…
On October 20, 2015, a public notice on a Ministerial Decree, issued by the Ministry of Economic Development and the Ministry of Economy and Finance, was published, enacting implemention rules for the patent box regime introduced by Law No. 190 in December 2014. Under the new patent box regime,…