WTS Tax Update for the Digital Economy in Italy

On 17 December 2020, after almost one year after the Italian DST had entered into force, the Italian Tax Authorities (“ITA”) issued a draft document (the “Draft”) that has provided further explanation and clarification on the DST. The Draft was also open to public consultation until the end of 2020.

On 15 January 2021, the Italian Government published a press release setting out, among others, a deferral of the forthcoming Italian DST payment deadlines. According to the press release, the Law Decree will provide that for the first year of application of the Italian DST (i.e. year 2020):

• The deadline for the payment of the DST for year 2020, which would ordinarily be due on 16 February 2021, is deferred to 16 March 2021.
• The deadline for the filing of the DST return for year 2020, which would ordinarily be due on 31 March 2021, is deferred to 30 April 2021.

Read the entire DST Update here.