The tax system in Italy provides for a progressive rate of calculation of payments for basic income tax, depending on the level of income and ranges from 23% to 43%.
The VAT rate ranges from 4% to 22%. Italian companies and individual entrepreneurs pay federal retained earnings tax (IRES) and regional income tax (IRAP). Accordingly, the standard rates are: IRES - 24% IRAP - 3,9%.
Social contributions amount to 30%.
The tax on the purchase of real estate can range from 10% to 22%.
Income tax will need to be paid in case of rental of real estate, which will range from 23% to 43%.
Inheritance tax varies from 4% to 8%.
Dividends from Italian resident companies are taxed at a rate of 10%.
The tax on cryptocurrency is 26%.
As a member of the European Union, Italy participates in the agreement on the automatic exchange of tax information.
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