Italy - real estate tax guide
August 16th, 2007 by Tea
Corporate income tax
The standard rate of corporation tax (IRES) is 33%. A local profit tax (IRAP) generally applies at 4.25% on an adjusted profit figure which is calculated by deducting production costs from sales value, with wages and interest expenses (for non-financial companies) not deductible. IRES and IRAP taxable bases are different, so the effective tax rate is not simply 37.25%. These taxes apply to an Italian or foreign resident company holding property in Italy and are generally reportable to the tax authorities on an accounting year basis.(for more information click here)
- Posted in Europe Law & Taxes, Italy, Europe real estate