Italy enacted a new law that significantly amends its rules requiring Italian resident individual taxpayers to report their foreign financial investment and accounts and other assets capable of generating foreign source taxable income.


The fist significant change reduces the scope of the reporting. it eliminates the duty to report intra year transfers

Italian resident taxpayers are required to report their foreign financial investments and assets which can generate foreign-source income subject to tax in Italy, by filling out a special part of their annual income tax return referred to as form RW. Foreign individuals who have (personal and business) interests and contacts with Italy that may trigger Italian tax residency under Italian residency or domicile tests would be subject to the same reporting obligations. Italy’s tax administration is stepping up its enforcement efforts in this area of law and penalties for failure to report are particular harsh and difficult to mitigate after the fact. We have prepared an overview of Italian international tax reporting rules with a general discussions of some of the relevant issues that arise in this area of law.
Continue Reading Italian International Tax Reporting Rules Through Part RW of Italian Tax Return

Secondo la Risoluzione 142/E del 30n Dicembre 2010, Anche il diritto di nuda proprietà relativo ad un investimento estero suscettibile di produrre redditi imponibili in Italia va dichiarato sul modulo RW, facendo riferimento al costo storico risultante dall’atto costitutivo del medesimo, parallelamente alla dichiarazione del diritto di usufrutto da parte del titolare del medesimo.
Continue Reading Anche la nuda proprietà nel modulo RW