Tax Alert: Italy - New Changes to IPT Prepayment Approved by Italian Parliament
The 2019 Budget Act was approved by the Italian Parliament on 30 December 2018. As anticipated, the approved budget includes an increase in the IPT prepayment rates. The approved rates are as follows:
- 85% in November 2019 for tax year 2020
- 90% in November 2020 for tax year 2021
- 100% in November 2021 for tax year 2022 onward
For completeness, these new rates overrule those approved in last year Budget Act. However, the deadline remains 16 November each year.
If you have any questions, please let your client team know.