Italy has published the Decree of 11 December 2020 from the Ministry of Economy and Finance in the Official Gazette, which sets the legal (statutory) interest rate at 0.01% (down from 0.05%) with effect from 1 January 2021, which is the lowest the rate has ever been. For tax purposes, the rate may be used in relation to the taxation of interest income as a presumed rate on loans if the rate has not been agreed to in writing.