Italian Cabinet Introduces Tax Administration Decrees on Penalties

The Italian Cabinet has issued a number of decrees for tax reforms before its ability to introduce measures without parliamentary approval under the special tax reform law expires. The main measures concern tax administration and penalties, including:

• The undeclared income amount beyond which criminal sanctions are imposed is increased from EUR 1 million to EUR 1.5 million, while the threshold amount of tax unpaid remains at EUR 30,000;
• The underpaid VAT amount beyond which criminal sanction…