North America

Tax Alert: Italy – New Changes to IPT Prepayment Approved by Italian Parliament

Sovos
January 6, 2019

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.

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Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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