At its meeting on October 16, the Council of Ministers approved, in preliminary consideration, the first two draft legislative decrees implementing the Reform Proxy Law (Law No. 111/2023):

– the first legislative decree scheme contains the first form of reform of personal income tax and other measures on income tax;
– the second legislative decree scheme contains novelties on international taxation.
– The draft decrees will now have to acquire the opinions of the relevant parliamentary committees. They are expected to be finally approved and published in the Official Gazette by December 31, 2023.

The provisions therein will apply as of January 1, 2024.

At its meeting on October 16 last year, the Council of Ministers also approved the Law Decree attached to the DDL Budget 2024 (so-called “DL Anticipi“).

The main measures of interest to businesses contained in the aforementioned legislative measures are summarized in our full alert. Please click here to access.