On Monday 18 March 2013 Susie Crew, Client Director – European Tax Practice and Ann Stalley, Head of Outsourcing, travelled to Turin, Italy to meet with FiscalReps’ Italian associates.

Along with the ability to further deepen FiscalReps’ knowledge and understanding, these visits allow FiscalReps to gain a useful insight into and discuss complex and sometimes unusual queries.

Questions raised and answered include: -

  1. Are Vatican City and San Marino subject to IPT and levies?

    Insurances with principle of territoriality in Vatican City or San Marino do not pay IPT and levies in Italy, as Vatican City and San Marino are not part of the Italian Republic. The relevant legislation in Vatican City and San Marino must be applied.
     
  2. What about application of IPT and levies in Livigno, Campione d’Italia, and the Italian Water of Lake Lugano?

    Insurances with principle of territoriality in Livigno, Campione d’Italia or Italian Water of Lake Lugano pay IPT and levies like insurances in any other territory of Italy, because they are part of the Italian Republic. The only exemptions in this case apply to VAT and excise taxes.

FiscalReps look forward to continuing to strengthen the relationship with the Italian associates and are planning more visits over the coming months.

If you have any questions please contact Susie Crew on +44 (0)20 7036 8070, or by email to susie.crew@fiscalreps.com