Doing business in Europe: Italy
Article Abstract:
Companies wishing to do business in Italy need to become familiar with the wide range of Italian corporate and tax laws. Business partnerships in Italy are either general partnerships denoted with Snc, limited partnerships (Sas), limited partnerships with share capital (Sapa), and public and private limited liability companies (SpA and SrL). An SpA needs minimum registered capital of 200 million lire in order to be started. There are fewer types of shares than there are in Great Britain, and an SpA may only purchase up to 10% of its own shares. The corporate tax rate is about 36% and is applicable to world wide income of residents. Residents and non-residents are responsible for a 16.2% local income tax and a 18% IVA, resembling the value-added tax in the United Kingdom. Additional taxes include social security contributions of close to 40% of employee renumeration and personal income taxes.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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Doing business in Europe: Greece
Article Abstract:
The membership of Greece in the European Community (EC) has brought about changes to Greek company law and corporate taxation. Greek company law allows for general and limited partnerships and two types of corporations: limited companies and incorporated partnerships. Foreign companies establishing Greek branches must register with a local chamber of commerce and the Ministry of Commerce. Companies are taxed on net annual profits after deductions with a basic rate of 46%. Greek tax law provides a reduced rate of 35% for manufacturing and mining companies listed on the Athens Stock Exchange. The basic Value Added Tax rate is 16% and income tax is assessed against the worldwide income of permanent residents at rates ranging from 18% to 50%.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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Doing business in Europe: France
Article Abstract:
A comparison of business practices in France to those in Great Britain reveal a considerable number of differences that accountants from England should be aware of if they ever plan to work or live in France. Subjects discussed include: administration; corporate tax rates; value added tax rates; local taxes; social security taxes; and individual taxes.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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