| Description |
The Italian Reduced Rate Percentage (IRRP) to apply for the semester. The so-called White List is a list of countries that allow an adequate exchange of information with Italy. It is contained in a Ministerial Decree of 4 September 1996, which should be updated every six months.
Capital gains on non-qualifying shares in a resident non-listed company are exempt from 26 percent substitute tax if the seller is a resident of a White-List country. As from 1 January 2012, direct investment in government bonds are subject to a lower
rate (i.e. 12.5%) than comparable investments made through Italian or Luxembourg regulated investment funds. To allow the application of the 12.5% tax rate to investment funds investing into Italian government bonds and assimilated securities, investment funds may perform an asset test which estimates the percentage of the portfolio invested in qualifying government bonds.
An up to date version of the Italian country "white list" may be found at this URL https://www.acupay.com/resources-help-links/resources/italy-resources/. |