How to import to the US from Italy: the ultimate guide
As of December 2020, Italy’s total trade with the United States was $6.33 billion, about 2% less than the previous year. Italy is currently ranked at 14 for its position as a trading partner with the U.S. From Italy, the major imports into the U.S. are cars, medicine and wine while the U.S. in turn exports mostly oil and petroleum products.
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Everything you need to know about the Italian Chamber of commerce
Let’s start from the beginning. A chamber of commerce, sometimes called a board of trade, is a business network which generally consists of business firms that belong to different industries or trades. They act and associate voluntarily, most often serving as spokespeople and representatives for the larger business community. With this in mind, let’s move on and take a look at the Italian Chamber of Commerce before seeing some of its differences with the American Chamber of Commerce.
Transfer Pricing in Italy: useful documents and tips to do everything correctly
As of 23 November 2020, the Italian tax authority has issued new guidelines for the preparation of transfer pricing documentation that fully replaces the 2010 guidelines.
Italian custom import duty: a useful guide
Italy's membership in the European Union has greatly influenced its tariff structure. Duties on imported goods disappeared between Member States by 1986. Since then, this has also resulted in a substantial reduction of duties on products imported from areas outside of EU countries, including the United States.
Imports and Exports for Italy: a trading guide for starters
If you’re looking for information about imports and exports for Italy, then look no further. We’ll first look at an overview of the economy before turning to its imports and exports as well as the procedure for companies looking to carry out those activities. Italy is the world’s 8th largest economy with a GDP of nearly $2 trillion in 2019. Italy’s GDP grew by 0.3% in 2019.
How to export to Italy: a useful Financial Guide
Your national business has grown, you’re looking to expand into international trade and you’ve got your eye on the Italian market. Countries within the EU have an easier time because of standardized rules, but other countries, including the US and now the UK, must meet the higher standards related to goods entering the market. As such, requirements for exporting to Italy will be heavily dependent on the country of origin.
Without any contextual knowledge, going international can lead to costly errors. A comprehensive analysis of Italy and its market is fundamental to succeeding.
The sales tax in Italy or VAT, is called IVA (Imposta sul valore aggiunto) and it is 22% of any taxable sales, including raw materials.
All businesses must collect this Value Added Tax on behalf of the government, pay it quarterly or monthly (depending on the annual VAT turnover) and file the quarterly VAT return.
VAT is a complex tax; this post tries to explain the VAT implication for you and your business. This post is not meant to be comprehensive of all the VAT legislation, and it does not consider any special tax regime.
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AuthorAfter moving back to Italy from the United States in 2013, I realized how much an accounting and tax firm was needed to help expats living in Italy to comply with the local tax regulations. |
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