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Italian Agency of Revenue building in Milan. Taxation in Italy is levied by the central and regional governments and is collected by the Italian Agency of Revenue (Agenzia delle Entrate).
However, individuals are subject to a payroll deduction made of up to 8% for employees with additional 2% up to 6% of employer's gross salary paid by employers depending on the category the individuals fall into. There are two categories of employers: "Class 1" and "Class 2" The payroll tax applies to all remunerations/salaries over US$10,000 ...
Deductions typically include all income-producing or business expenses including an allowance for recovery of costs of business assets. Many jurisdictions allow notional deductions for individuals and may allow deduction of some personal expenses.
For employees with only a single job, the level of taxation at the end of the year is close to the amount due, before deductions are applied. Discrepancies and deduction amounts are declared in the annual income tax return and will be part of the refund which follows after annual assessment, or alternatively reduce the taxation debt that may be ...
General; Tax avoidance. Repatriation tax avoidance; Tax evasion; Tax resistance; Tax shelter; Debtors' prison; Smuggling; Black market; Unreported employment; Corporate
Those who file their taxes online by the deadline of April 30 should receive their refund within two weeks, while those who file by paper can expect a longer turnaround period of eight weeks. The Canada Revenue Agency will pay compounded daily interest on delayed refunds, beginning on the later of May 31 or 31 days after the return is filed. [22]
Average tax rates on wage income for a person in Class 1 with only standard deductions, 2010. The current income tax system has two standard deductions: minimum standard deduction (minstefradrag) [13] and personal allowance (personfradrag). [14] The minimum standard deduction is set as a proportion of the income with upper and lower limits.
All income of a corporation is subject to the same federal tax rate. However, corporations may reduce other federal taxable income by a net capital loss [24] and certain deductions are more limited. [25] Certain deductions are available only to corporations. These include deductions for dividends received [26] and amortization of organization ...
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