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4w ago

Italy Defers Tax Payments and Eases Expense Rules in New Fiscal Decree

Offering broad relief through deferred payments, the decree establishes a framework for a targeted tax amnesty next year.

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Overview

  • The Council of Ministers approved the decree on June 12 to postpone 2024 balance and 2025 advance payments until July 21, 2025 for 4.6 million Isa and flat-rate taxpayers without surcharge.
  • Self-employed professionals can now deduct travel, lodging and meal expenses incurred abroad even if paid in cash, while traceability remains mandatory for domestic trips.
  • VAT on artworks has been cut from 22% to 10% to boost the cultural sector under the new fiscal measures.
  • Municipalities will have until September 15, 2025 to set IMU property tax rates, extending the approval deadline from February to grant local authorities more flexibility.
  • Deputy Minister Maurizio Leo said the government will seek a targeted tax amnesty for part of the €1.275 trillion backlog of tax credits in the next budget law, with a separate decree delaying the sugar tax.