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  • Italy

    AT A GLANCE

    OUR JURISDICTIONS —

    Italy

    LAST UPDATED 21/07/2023

    AT A GLANCE

    Italy has been a nation-state since 1861, when its regional states came together under the Kingdom of Italy. The monarchy was then abolished after World War II, resulting from popular referendum in 1946.

    Italy has a population of around 60 million, its capital city is Rome, and it comprises 20 administrative regions. The euro (EUR) is their currency, and the official language is Italian. 

    With its well-developed industrial north, and the less developed southern regions, Italy’s diversified economy is largely driven by manufacturing and tourism. 

    Italy is a member state of the United Nations (UN), the World Trade Organization (WTO), the Organisation for Economic Cooperation and Development (OECD) and is a founding member of the European Economic Community (EEC) and the North Atlantic Treaty Organization (NATO).

    Our local Tax Natives in Italy can tell you everything you need to know about the ins and outs of your tax obligations there. Whether you’re buying a single property, or doing complex business deals, we’ll get you the advice you need. Just say the word and we can link you with a local expert who can answer all your questions. 

    THE HEADLINES

    • The corporate income tax rate in Italy is 24%
    • The rate of personal income tax in Italy is up to 43%
    • The standard VAT rate is 22%

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