Tax & Legal

Tax & Legal

Covid-19 Italy: Postponement of suspended tax payments

Prepared by Alessandro Caridi and Flavia Barone

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading

Statutory interest rate levied on late payment of taxes no longer up-to-date?

The Supreme Tax Court has serious doubts as to the appropriateness of the current fixed rate of interest on late payments which is levied at a rate of 6 per cent per annum. This is especially relevant when considering the generally low interest rates level which have been charged in the market for some considerable time. Continue reading