The Republic has a strong production capacity. The strongest economic sectors are engineering,
plastics, metallurgy, chemicals and petrochemicals, light industry and food industry. Italy also
boasts highly productive agriculture and tourism production, as well as renowned fashion houses.
Italy is among the world's largest producers and suppliers of cars, bicycles and mopeds,
tractors, washing machines and refrigerators, typewriters and accounting machines,
radio-electronic products, industrial machinery, steel pipes, plastics and chemical fibres, car
tyres, as well as ready-made clothes and leather shoes, pasta, cheese, olive oil, wine, canned
fruit and tomato products.
The official currency is the euro. Italian is the state language.
Italy has an active international policy aimed at international integration and cooperation with other states.
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bank account opening
From all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth noting:
According to current Italian laws, it is possible to register your company in the following legal forms:
The most popular forms of registration are considered to be limited liability companies. The minimum amount of the share capital is 10,000 euros, which must be paid in 100% in the case of one founder and 25% if there is more than one founder at the time of the notarial act, however, the full amount must be paid by the start of activity.
Based on the analysis of the current legislation regulating the activities of business entities, the following can be highlighted with regards to the specifics of the process of registering your business:
The state has the following features for levying taxes and fees
A corporate income tax (IRES) and a regional production tax (IRAP) are fixed at a state level. The standard corporate tax rates are:
24% for IRES;
3.9% for IRAP (local tax)
VAT is imposed on the supply of goods and services that are carried out in Italy. The basic VAT rate is 22%. Reduced rates are provided for specifically listed supplies of goods and services, such as
4% on listed food, beverages and agricultural products, as well as electronic books/electronic media that meet certain requirements.
5% on certain medical services, on the sale of food herbs, and on certain transportation services on seas, lakes, and rivers.
10% for the supply of electricity for listed purposes and medicines.