Italy: Tax relief measures in “Relaunch decree” (COVID-19)
Italy: Tax relief measures in “Relaunch decree”
Tax relief measures included in Law Decree no. 24 of 19 May 2020—referred to in English as the “Relaunch decree”—are offered in response to the coronavirus (COVID-19) pandemic.
The Relaunch decree was published in the official gazette no. 128 of 19 May 2020. The Relaunch decree must be converted into law within 60 days of its publication in the official gazette, and it is possible that amendments could be made during this parliamentary conversion process.
The Relaunch decree includes the following tax relief measures:
- IRAP (local business tax) exemption
- Tax credit relief
- Value added tax (VAT) measures and tax payment deferrals
- Tax litigation and tax authority procedures
- Export and excise measures
- Step-up in the tax basis of business assets
Read a May 2020 report [PDF 252 KB] prepared by the KPMG member firm in Italy
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