On 18 June 2014, the Italian parliament converted Law Decree No. 66/2014 into law. In general, the provisions of the decree entered into force 24 April 2014 when it was published in Italy's Official Gazette no. 95.
The key changes of the law include:
- The introduction of an individual income tax credit of €640 for individuals with taxable income of €24,000 or less, and a portion of €640 for individuals with taxable income between €24,000 and €26,000
- A reduction in IRAP (Regional Production T…