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Italy Publishes Decree Setting Legal (Statutory) Interest Rate for 2021

|Approved Changes|Italy
Italy

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 ha…

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