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Jul
The Italian government has approved Law Decree No. 34 of May 19, 2020 (“Decreto Rilancio”), which includes several measures aimed at providing additional support to businesses impacted by the COVID-19 emergency. Below is an overview of said measures.
A. Reduction of IRAP (Regional Tax on Production Activities)
Section 24 of the Decreto Rilancio sets forth an exemption for companies and self-employed workers with revenues not exceeding EUR250 million in the last financial year from payment of (1) the balance of IRAP for the current tax period until December...