Italy Services
Xcelentra and its associates together have many decades of experience in various financial and accounting services. We are leading providers of cutting edge and cost effective international payroll processing services – indeed, we are one of the most reputed payroll service providers in Italy and are considered one of the best companies in Italy for payroll processing services and payroll outsourcing solutions. Xcelentra provides customized and speedy employee payroll processing services to companies of all sizes, including small businesses.
Our services in Italy broadly include:
- Monthly payroll
- Registration and de-registration of employees
- Setting up employer accounts at the Social Security office
- Preparation of monthly forms for withholding tax and social contribution payments (Form F24)
- Additional monthly pay, sick pay, maternity pay, accident pay, management of paid leave, processing and filing of DM10 forms
- Filing of Statutory Returns, e.g. wage tax return
- MIS reporting covering overall costs, personnel costs, entries and exits, etc.
- Advice on questions coming from the tax office, Social Security office, and employment office
Xcelentra offers complete end to end services to our clients in Italy in order to ensure that they get the maximum benefits possible under Social Security Exemption rules. Xcelentra assists its clients in getting the maximum benefit from these rules by helping them comply with SSA (Social Security Agreement) requirements, liaisoning with the Indian Provident Fund office and also with Italy’s Social Security office.
Xcelentra provides cutting edge PAYE Advisory services to its clients in Italy. Xcelentra has thorough expertise and experience in applying to relevant authorities in Italy for claiming dispensation for expat employees of client companies. The dispensation enables our clients to conveniently work out PAYE for expat employees and optimise the net take home pay for their employees.
Individual Tax return filing
Based on our expertise in the field of individual taxation internationally, Xcelentra offers comprehensive, cutting edge, customised individual tax preparation services and income tax return filing services, along with taxation advisory services (including company tax return, tax filing services for small business, non resident Italy tax return, Italy expat tax return, etc.). Xcelentra not only prepares regular tax returns for clients in Italy but also explores and claims various benefits available to an individual in different countries in order to minimize his tax liability. Apart from the regular individual tax return filing, we also represent our clients before relevant authorities in Italy (such as Income Tax, Social Security, National Insurance, etc.) with respect to their tax and social security matters, as and when needed.
Our tax return filing services in Italy include the following:
- Creating your income tax return for working in Italy
- Coordination of items that can be deducted from tax
- Checking tax advantages for your spouse and children
- Checking taxation on income outside Italy
- Checking the implication of current double taxation agreements
As per client requirement, we also assist clients in tax assessment. We can also request the tax office to send all their notices directly to Xcelentra. Further, we will check the assessments on your behalf. If the tax office has deviated from your income tax return, or if there are other suitable conditions, we can lodge a legal appeal for you within the mandated period in order to protect your tax interests.
Xcelentra provides a comprehensive range of top of the line services to help our Italy based clients achieve greater efficiencies and productivity. Our services range from routine annual compliance to specialist advice, according to your particular business sector and circumstances. Thus, we offer a very comprehensive set of services, including tax preparation for small business, corporate tax planning services, corporate tax return services, Italy corporation tax services, etc.
Our corporate tax compliance services in Italy include:
- Robust processes for gathering tax data and meeting your company’s financial reporting obligations for tax compliance.
- Preparation and submission of tax computations, using the latest software capable of meeting all relevant online filing requirements.
- Advising on specialist areas (such as R&D tax credits) and submitting relevant claims on your behalf.
- Dealing with tax offices on your behalf, responding to their queries and settling any disputes.
With Xcelentra’s expertise and experience, we can help you thoroughly analyse and understand your business environment, thereby helping you to anticipate opportunities and problems, work out a realistic and practical solution, and implement it for you, leaving you free to focus on your business. Our VAT related services include Italy VAT registration services and VAT refund services. Our VAT related services in Italy include advisory as well as outsourcing services.
Xcelentra, along with its associates in different countries, regularly assists companies in managing and reducing such risks and offers comprehensive transfer pricing services in Italy. Xcelentra assists companies by aligning practical transfer pricing solutions with their overall global business operations and objectives. We also assist clients with strategic documentation to support their transfer pricing practices, and we help our clients in resolving disputes efficiently.
Documentation
The volume of related-party transactions at multinational businesses is constantly on the rise. This coupled with increased tax authority collaboration across borders presents both risks and opportunities. Xcelentra provides practical solutions which enable companies to strategically approach transfer pricing documentation requirements. This helps global businesses in achieving their operational and international tax planning objectives.
Advance Price Agreements (APA)
Transfer pricing presents many legal, operational, and tax related challenges. This creates a massive business risk and may require the company’s top management to successfully defend a transfer pricing examination. APAs allow taxpayers to proactively reduce this risk via advance agreements on their transfer pricing methods with one or more tax authorities. Xcelentra regularly assists its client companies in managing their transfer pricing issues – particularly the risk of double taxation – on a prospective basis via such APAs.
Addressing Disputes
During a transfer pricing examination, clients often end up making critical mistakes while responding to initial tax authority inquiries and interviews. The most effective and efficient defense requires the early involvement of an experienced advisor. Such advisors should have experience of successful resolution of examinations at all possible levels of the process, ranging from proposed adjustments by field agents, to Advance Pricing Agreements, administrative appeals, litigation and the MPA/CA process. Xcelentra takes an integrated approach to resolving transfer pricing disputes and has achieved positive outcomes for its clients regularly.
Optimization of Structure
The global economic environment is characterized by continuous changes in technology, best practices and processes, and legislative changes. At Xcelentra, we believe that due to these continuous and rapid changes, periodic assessment of a multinational company’s global business model is a critical exercise. Business Model Optimization (BMO) is the process of balancing the demands of operations and tax laws and integrating them into a company’s business model. This helps ensure that taxes have the lowest possible impact on a company’s bottom line. This enables businesses to achieve the maximum possible profitability. At Xcelentra, we provide high quality, customised tax and BMO services that focus on helping our client companies in integrating operational and tax planning in a scalable and sustainable manner. This enables businesses to achieve the greatest possible tax efficiency, without compromising on tax compliance.
Cross Border Transactions
Xcelentra is a leading financial services provider and its expertise and experience extends to every aspect of international tax planning and compliance in Italy.
Xcelentra regularly advises its clients on a host of issues, including initial overseas investment, management of global effective tax rate, financing international operations and cross border transactions and structuring. We use our specialized knowledge to understand our clients’ business and deliver tailored tax solutions that are aligned with their wider business strategy.
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Xcelentra is a leading financial services provider and its cutting edge and end to end solutions in Italy make it extremely easy for you to run your own business. Xcelentra provides each of its clients with a dedicated account manager in order to efficiently and effectively handle their records and their queries, if any. This ensures that our clients in Italy achieve the maximum possible productivity while firmly remaining in the driving seat and thus, getting full control over their finances.
Limited company formation
Xcelentra will assist you fully in setting up your own Limited Company in Italy, will do all the necessary registrations, and will also help you in day to day operations. Thus, Xcelentra will help you with many important one time activities. These activities include:
- Limited Company Formation with your chosen company name
- Advice on the best holding pattern for shares in your new company
- Company registration with relevant authorities for PAYE and corporation tax
- Company registration for VAT, if applicable
- Opening your company bank account
Assistance with key operational tasks
- Xcelentra will provide you with end to end assistance, which will help you tackle many important operational tasks. Some of Xcelentra’s services include:
- A dedicated account manager for your company
- Providing comprehensive spreadsheets to help with recording of trading activities and management controls of the company
- Preparation of weekly/monthly pay slips for one fee-earning director
- Book keeping – managing and maintaining the books of account of the limited company
- Preparation of quarterly VAT returns
- Advice on joining the VAT Flat Rate Scheme
- Dividend planning and administration
- Attention to detail and dealing with all correspondence with relevant authorities
- Preparation of annual PAYE returns (P35, P14, P111d)
- Preparation and submission of annual accounts
- Preparation and submission of corporation tax computations and corporation tax returns (CT600)
- Dedicated accountants for filing your Annual Return (AR01) with relevant authorities
- Preparation of the self-assessment tax return for the director, when their income is derived mainly from their limited company
Xcelentra is an end to end service provider in Italy and it has well structured processes to take care of your entire bookkeeping activity. This service is especially helpful for small scale businesses and startups in Italy and it enables businesses to achieve higher productivity and growth with lower costs. To know more about this service, please get in touch with Xcelentra today. Xcelentra offers comprehensive accounting and bookkeeping services for firms (including small businesses) based in Italy.
Xcelentra’s expertise and experience extends to every aspect of international tax planning and compliance and this reflects in the services that we offer to our clients in Italy. Xcelentra regularly advises its clients in Italy on a host of issues, including initial overseas investment, management of global effective tax rate, financing international operations and cross border transactions and structuring. We use our specialized knowledge to understand our clients’ business and deliver tailored tax solutions that are aligned with their wider business strategy.
Xcelentra is a comprehensive service provider and at Xcelentra, we believe in taking care of all of our client’s needs and thus offering them complete peace of mind. Hence, we offer comprehensive Italian Immigration and Visa advisory and consultancy services to our clients. Our aim is to help you achieve a seamless transition from one geographic base to Italy. Using our initiative, instinct, expertise, and experience, we help you achieve successful gateway approvals quickly and effortlessly.
Italy is a very popular destination for people wanting to live and work in a new country. However, the Italian immigration system is complex. Usually, work permits are processed under “art. 27 letter a)” which allows a foreign company to transfer employees to its Italian branch.
In normal circumstances, the following are the relevant documents required for obtaining the Permit:
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- Document attesting to the parent/branch relationship between the transferring company and the transferred company (historic chamber of commerce title search, or foreign chamber of commerce title search, translated and legalized by the Italian diplomatic authority abroad; consolidated financial statements).
- Transfer letter, signed by the legal representative of the transferring company, to be translated and apostilled by Italian embassy, expressly declaring the worker’s job and compensation (by the transferring company) and declaring that the worker has been employed in the same sector for at least six (6) months.
- Copy of the Italian company’s latest F24 and DM10 forms.
- Degree certificate, to be translated and apostilled by the Italian embassy.
- Copy of the identification document of the transferred company’s legal representative.
- Photocopy of the employee’s passport.
- Declaration of return to country of origin after the transfer.
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Once in Italy with prior appointment, the employee needs to complete his registration process with concerned SUI office.
Thus, securing an Italian work permit can be a daunting task. But, with Xcelentra’s expertise and experience, you can easily get rid of the hassles of this task and secure your visa effortlessly.