Italy: Proposed increase of standard withholding tax rate
The Italian Prime Minister announced on 12 March 2014 a tax reform that may have as consequence, among other things, the increase of the standard withholding tax rate applicable to financial income (dividends, interest and capital gains) from 20% to 26%.
In principle, as government bonds are subject to a 12.5% tax rate, they should not be impacted by this standard rate increase.
The government plan is to enact these tax measures by 1 May 2014.
Note: Currently, no new Laws / Decrees or drafts have been released or approved in this regard.
We continue to monitor the market and will inform our customers as soon as any official update is obtained or Law / Decree is approved in connection with the tax reform.
| This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice. |