Doing Business In Italy - A Guide For Foreign Investors

 
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FOREWORD TO THE II EDITION

The second edition of CBA Doing Business in Italy booklet acknowledges (i) the main changes occurred in the last two years in the Italian domestic law (both from a tax and corporate standpoint) and (ii) the new specific tax rules introduced by the Decree n. 147 dated September 14th, 2015 ("Decreto Internazionalizzazione") in order to boost growth and internationalization of the Italian ente prises ("Internationalization Decree").

FOREWORD

With a population of over 60 million people, Italy is the third largest economy in the Eurozone and the eighth largest in the world. Situated in Europe, it has a surface area of 301,230 square kilometres (116,306 sq. mi) and its capital city is Rome. Italy is a Republic and has a system, where:

Parliament is the legislative branch; Government is the executive branch; The Supreme Court and a number of other lower courts and judges act as the judicial branch. Italy has a codified Constitution as its own fundamental law. Primary legislation - i.e. laws, law decrees, legislative decrees and regional laws - must comply with it. The main sources of primary legislation are systematic collections of laws, designed to deal with the core areas of legislation. Examples of these are the Civil Code, the Code of Civil Procedure, the Criminal Code, the Criminal Procedure Code, the Insolvency Law, the Law on Banking and Credit regulations, the law on Financial Institutions and Markets, the Navigation Code, the Income Tax Code, etc. EU regulations, Directives, Decisions and Recommendations shall also be regarded (or taken into account) as relevant sources of law.

The Italian economy is broad-based, encompassing almost every type of sector, from industry (particularly food, electronics, fashion, engineering, automotive, etc.), to agriculture (wine, olive oil, wheat, milk, fruit and vegetables) and services (mainly tourism, retail, banking and financial). Italy is the world's sixth largest manufacturing country and is characterised by a smaller number of multinational corporations than other economies of comparable size, and a large number of dynamic small and medium-sized enterprises, clustered in several industrial districts.

Italy is a member of the European Union and the European Monetary System. The country has adopted the Euro as its currency since 2002. Italy is also a member of the WTO.

Italy has always been regarded as the main door to the European market and, in general, to the...

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