The budget law decree approved on October 23rd 2018 anticipates the budget law itself, providing important updates for the Italian tax system.

Most relevant topics covered in the decree

​The most relevant updates regard:

  1. Rottamazione ter – Following the previous two rottamazione, the taxpayer can greatly reduce his/her tax liability. Taxpayers who applied for the rottamazione bis can opt for the rottamazione ter as long as they paid at least 1 instalment. The liability is paid in 10 equal instalments over 10 years.
  2. Debt write off up to € 1000 – Any outstanding liability, not exceeding € 1000, which arose from 2000 to 2010 will be automatically written off.
  3. E-invoicing – Starting from January 1st 2019 e-invoicing will take place. Invoices can be raised within 10 days.


Budget law

The upcoming budget law will likely include the following updates regarding taxes and Social Security:

  • 15% flat tax up to € 65.000 in revenues.
  • Corporate rate tax of 15% on reinvested profits.
  • Cedolare secca 21% applicable to commercial leases.
  • New pension reform.

How can Accounting Bolla help you?

The most recent updates that will take place in the upcoming budget law can greatly influence your tax position as individual or self-employed; at Accounting Bolla we can help you out in determining which is the best tax regime to adopt in order to minimise your tax burden.
​Check also our articles about filing your taxes in Italy, or airbnb taxes in Italy, or retiring in Italy.

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