Australia vs Italy

30%, with a reduced rate of 25% for small to medium businesses

24

15th day of the seventh month following the end of the income year

By the end of the 10th month after the end of the tax year.

First day of the sixth month following the end of the income year.

The last day of the sixth month after the end of the tax year.

Monthly or quarterly.

Advance payment: 1) Pay 40% on the last day of the sixth month after the end of the tax year, 2) Pay 60% at the end of the eleventh month after the end of the tax year. Taxpayers subject to the ISA reliability indices pay 50% in each instalment.

0/0/0

0-26/0-26/0-20

30/10/30

26/26/30

10

22

Capital gains are subject to the normal CIT rate (30%)

Capital gains are subject to the normal corporate income tax rate. A gain on a shareholding realised by a company is exempt as to 95% of its amount where four cumulative conditions are met: uninterrupted possession from the first day of the twelfth month before the disposal; classification among financial fixed assets in the first balance sheet closed during the holding period; the participated company not being resident or located in a preferential tax regime, that condition holding uninterruptedly for the period the statute requires; and the participated company carrying on a commercial enterprise, which is conclusively presumed absent where its assets consist mainly of property not used in its own business, and which must have been satisfied from the beginning of the third tax period before the disposal. The remaining 5% of the gain is taxed as business income.

28.50%

21.18%

28.56%

-22.74%