U.S., Italy launch tax accord after decade delay
From Reuters.com
The U.S. Treasury on Wednesday announced the activation of a long-delayed income tax treaty with Italy that will reduce taxes on U.S. businesses operating in Italy.
The treaty was ratified by the U.S. Senate in 1999, but was not ratified by Italy’s parliament until March 2009. It will largely be effective for taxable years starting Jan. 1, applying to taxes withheld at source on Feb. 1.
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