Italy Highlights:
- 1WB’s branch office is able to deploy local and foreign employees in Italy and ensuring fully compliance with country’s regulations.
- The whole deployment process for foreigners takes about 3 weeks whereas for locals within 1 week.
- Handling payroll processing, immigration and taxes compliantly, swiftly and cost efficient.
- Individual taxation as follows:
Taxable Income (Euros) | Tax Rate % |
---|---|
Up to 15.000 | 23% |
15.001 - 28000 | 27% |
28.001 – 55.000 | 38% |
55.001 – 75.000 | 41% |
Over 75.000 | 43% |
- Taxation in Italy is very complex and we will often use local tax consultant.
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Italian corporate entities are subject to a corporate income tax, known as imposta sul reddito sulle società or IRES, and to a regional tax, known as imposta regionale sulle attività produttive or IRAP.
The standard rates are as follows: 24% for IRES and 3.9% for IRAP
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Social security contributions
Mandatory social charges are payable by the employer and vary depending on the employee’s job and the size of the workforce. Specific exemptions apply, provided certain conditions are satisfied.
Individuals working in Italy normally are subject to social security contributions with rates depending on the sector and the job title. Social security in respect of the state pension fund borne by the employee generally is equal to 9.19%, plus 1% over EUR 47.143 (up to a cap of EUR 102.543) for employees who started contributing to an obligatory social security scheme after 1 January 1996. For those who started contributing before that date, contributions are calculated on the total amount of employment income received.
- Work permit - 1WB can sponsor work permits for foreign employees and the processing time is about 1 month.