Rome Apartments' Videos

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20 Nov 2009

Total Tax Rate: Our (extremely) Uncomfortable Position to Compete in a Globalized Market

PricewaterhouseCoopers/The World Bank just released their annual Total Tax Rate by country. It is a unique tool as it looks beyond corporate income tax to all of the taxes paid. By looking at all tax factors instead of just the CIT it shows
1) that Italian companies are paying a total tax rate of 73% on their income. The highest in Europe and the 20th most expensive in the world
2) that the time it takes to pay the taxes being an average 334 hours is way above the average of 252
3) That in terms of complexity we're ranking among the worst countries in the World, 128th.
This adds weight vacation rental entrepreneurs in Italy which are already competing with thousands smaller local players (managing officially below 3 units) who are not paying VAT and a number of other taxes.