Application of a withholding tax on qualifying income from foreign investments and financial activities postponed

On 19 February 2014, the Italian Tax Authorities (ITA), under request of the Ministry of Finance, issued Protocol No. 2014/24663, postponing to 1 July 2014 the application, by Italian financial intermediaries, of a 20% withholding tax on qualifying income derived from foreign investments and financial activities by Italian residents subject to individual income tax (article 4(2) of Law Decree No. 167 of 28 June 1990, as amended by article 9 of Law No. 97 of 6 August 2013).