Business Reforms in Italy
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Paying Taxes: Italy made paying taxes easier by allowing full cost of labor to be deductible for regional tax on productive activities (IRAP) purposes, as well as updating coefficients used for calculation of tax on real estate (IMU) and municipal service tax (TASI). Furthermore, electronic system for preparing and paying labor taxes was improved.
Enforcing Contracts: Italy made enforcing contracts easier by introducing a mandatory electronic filing system for court users, simplifying the rules for electronic service of process and automating the enforcement process.
Labor Market Regulation: Italy adopted the Jobs Act, which simplifies redundancy rules and encourages out-of-court reconciliation, reducing the time and cost for resolving labor disputes. The new legislation also broadens the coverage of unemployment insurance.
Starting a Business: Italy made starting a business easier by reducing both the minimum capital requirement and the paid-in minimum capital requirement and by streamlining registration procedures.
Labor Market Regulation: Italy relaxed the conditions for using fixed-term contracts but reduced their maximum duration to 36 months.
Registering Property: Italy made transferring property easier by eliminating the requirement for an energy performance certificate for commercial buildings with no heating system.
Enforcing Contracts: Italy made enforcing contracts easier by regulating attorneys’ fees and streamlining some court proceedings.
Resolving Insolvency: Italy made resolving insolvency easier through an amendment to its bankruptcy code that introduces a stay period for enforcement actions while the debtor is preparing a restructuring plan, makes it easier to convert from one type of restructuring proceeding to another, facilitates continued operation by the debtor during restructuring and imposes stricter requirements on auditors evaluating a restructuring plan.
Getting Electricity: Italy made getting electricity easier and less costly by improving the efficiency of the utility Acea Distribuzione and reducing connection fees.
Registering Property: Italy made transferring property easier by digitizing cadastral maps of properties and making the maps available to notaries online.
Resolving Insolvency: Italy introduced debt restructuring and reorganization procedures as alternatives to bankruptcy proceedings and extended further rights to secured creditors during insolvency proceedings.
Starting a Business: Italy made starting a business easier by enhancing an online registration system.
Labor Market Regulation: Italy allowed the use of fixed-term contracts for permanent tasks.
Starting a Business: Italy made starting a business easier by making it possible to carry out all required procedures through a single notice.
Paying Taxes: Italy made paying taxes less costly for companies by reducing the corporate income tax (IRES) rate and the regional tax on productive activities (IRAP) rate.
Labor Market Regulation: Italy increased the notice period for redundancy dismissals.
Resolving Insolvency: Italy enhanced its insolvency process through new legislation that gives trustees greater discretion in liquidating assets and grants creditors the right to propose arrangements for other creditors to take over distressed assets, which may shorten the liquidation procedure.