Recent News From Studio Legale Tributario Balbi

Italian Revenue Agency has published the Ruling no. 53 of 17 January 2023 about the activities and income of self-employment provided by a non-resident natural person and the concept of ''fixed base'' pursuant to the provisions of the conventions. In general, pursuant to Article 23, paragraph 1, letter d) of the “TUIR” (Italian consolidating Act on Income tax), income from self-emp...

On short-term real estate leases (less than 30 days), it is lawful both to collect information and to apply a withholding tax provided for by the National tax system: two activities which, according to the UE Court of Justice, judgment lodged on 22 December in Case C-83/21, Airbnb Ireland and Airbnb Payments UK, are not contrary to EU law. An Italian law of 2017 (no. 50) establishes an optional ta...

A special purpose vehicle established on the basis of the characteristics provided for by "Section 110" of the Irish Taxes Consolidation Act ("TCA") of 1997 has proposed to the competent Italian Revenue Agency (Agenzia delle Entrate) a ruling about subjects resident abroad and treatment of their capital losses and capital gains in Italy (see Risp. AE November 9, 2022, n. 556). ...

The Supreme Court in Italy (“Corte di Cassazione” in Rome) rarely deals with Double taxation Agreements; however, last September, two important judgements were issued concerning the Italy-US Convention and which may influence the interpretation of many other Double taxation Conventions. According to the Judgement 25698/2022, for capital income from foreign sources, directly received by the taxpa...