Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 10/10/2012

Italy - VAT rate increases proposed for July 2013 

October 10:   The Italian government on 9 October 2012 approved a project of law that includes proposed increases to the value added tax (VAT) rates.

The proposed VAT rate increase would be effective 1 July 2013, and if enacted, would increase:


  • The “reduced VAT rate” from 10% to 11%
  • The standard VAT rate from 21% to 22%

The “super-reduced VAT rate” would remain unchanged at 4%.


The legislation is referred to as the Stability Act (Legge di Stabilità), and must now be passed by the Italian Parliament prior to enactment.



For more information, contact a tax professional with KPMG in Italy:


Eugenio Graziani

+39 045 811 4321




    ©2012 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


    The KPMG logo and name are trademarks of KPMG International.


    KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


    The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


    Direct comments, including requests for subscriptions, to go-fmtaxnewsflash@kpmg.com.
    For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

    + 1 202 533 4366

    1801 K Street NW
    Washington, DC 20006.

     

    Share this

    Share this

    Subscribe

    Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


    Already a Subscriber? Login


    Not a member? Subscribe now

    Contact us