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 was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates.
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