As part of a package of austerity measures aimed at cutting the country’s deficit, Italy has announced an increase in the capital gains tax rate, from 12.5% to 20%. Surprisingly, however, the VAT rate has remained unchanged for now.
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Like medicine, tax is an evolving science. Norah Al Khalaf explains how tax policies have changed across the member states of the Gulf Cooperation Council and what tax departments should prepare for next.