The foreign tax credit is granted only under specific conditions. According to the Court of Cassation, the benefit is allowed only if the tax has actually been paid abroad and if the income on which it was applied is taxable in Italy. Another limitation comes from double taxation treaties. If these agreements provide for the […]
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Dividends received by an individual may be subject to double taxation: The Court of Cassation has clarified that the foreign tax credit is granted only if the foreign tax is levied as an income tax and not as a different type of levy.
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Article 165 of the Italian Consolidated Income Tax Act (TUIR) governs the foreign tax credit for income taxes paid abroad, applicable to IRPEF and IRES taxpayers. This fiscal tool aims to prevent international double taxation, provided that specific legal requirements are met. Key Aspects: This regulation ensures a balance between national and international taxation, preventing […]
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