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Bonus for Hiring Young People in the 2018 Budget

Written by: Editor

Bonus-for-Hiring-Young-People-in-the-2018-Budget.jpgThe Italian authorities have announced the measures taken for the 2018 Budget. Amongst the numerous incentives provided to stimulate the local economy, the Italian government also established attractive measures for the employment of persons with an age below 35 years old. Other measures encourage the usage of eco-friendly related devices and new value added tax requirements for persons working as sole proprietorships. Our team of lawyers in Italy can provide legal assistance on other benefits established under the 2018 Budget
 

Employment of young persons in Italy  

 
One of the most important measures taken under the new Budget refers to the bonus on employment matters received by companies operating in Italy. In 2018, companies employing persons with an age below 35 years old can obtain a bonus if the employment contract is established on a fixed basis. 
 
The payment of social security contributions will be entitled to a 50% tax reduction (for values of up to EUR 3,000) for a period of three years. If the company hired a person under an apprenticeship contract, the period is reduced to one year, as long as the aformentioned contract is modified into a permanent employment contract. Furthermore, the local authorities can provide a 100% tax exemption if the hired person signed a work-school agreement, prescribed under the Law 107/2015. Our team of Italian lawyers can offer in-depth information on the provisions of this law. 
 

VAT declaration for sole traders in Italy 

 
Natural persons in Italy can start a business on their own behalf, by setting up a sole trader. The activities carried out under the sole trader are imposed with the value added tax (VAT) and persons working under this legal entity have to complete VAT declarations
 
In the situation in which the Italian sole trader issues electronic invoices, the tax authorities have prepared a pre-completed VAT declaration to ease the tax procedures
 
The Italian government imposed new regulations on the withholding tax applicable to rented properties (aiming only at the residential properties in Italy) and tax breaks for farmers with an age below 40 years old. 
 
You may contact our law firm in Italy for more details on the tax deductions offered in 2018, as well as for information on the Italian employment legislation.  
 

Comments

  • Britney 2017-11-28

    Good news. I know that the Italian economy made an important recovery in certain business fields. I hope that these measures will have positive effects.

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