Omnibus Tax Decree: what’s changing for business and personal income

Experts from *Il Sole 24 Ore* continue their analysis of the Omnibus amending decree, which introduced the latest changes to tax reform in August. The ‘Focus Norme e Tributi’ supplement, available at newsagents on Thursday 15 October alongside the daily newspaper (at a total price of €3.50), is a guide to the changes affecting corporate and personal income.

The first area mainly concerns employee welfare, the taxation of fringe benefits relating to company cars, and income from self-employment. The implications for employers are also outlined.

As regards corporate income, the main issues are tax credits, agricultural activities, securities, intangible assets, holding companies, the deductibility of variable remuneration for directors and managers (share options and similar arrangements) and various aspects of financial statements, including the dual system of statutory and tax accounting and foreign-currency items.