Italy issues filing instructions for new “IRAP refunds” [TAX ALERT]

February 12, 2013

On 17 December 2012, the Italian Revenue Agency issued specific instructions concerning formalities for the filing of new IRAP – Italy’s regional tax on productive activities – refunds (Filing Instructions).

Claims can be filed by Italian companies and Italian permanent establishments of nonresident companies starting as of the first quarter of 2013.

Refunds are generally available for the last five fiscal years for an amount of approximately 1% of the annual personnel costs.

Further details are available from the Ernst & Young Tax Alert which can be accessed using the link below:

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