Legal interest rate at 0.8% from 2019
The Firm announces that, with effect from January 1st 2019, the legal interest rate set out in Article 1228 of the Italian Civil Code, will be increased from the current 0,3 percent to 0,8 percent.
This amendment was published in the Italian Official Gazette no.291 of 15 December 2018, according to the MEF decree of 12 December 2018.
Therefore, a higher legal interest rate will lead to some practical implications, such as a heavier burden of payments from self-assessment of late tax payments, or the accrued interest on deposits related to rents.
Also, in the case of calculation for the interests among more periods, the interest will be calculated taking into account the different interest rate of each period.
Andersen & Legal Italia professionals are available to provide Clients with further clarifications on this topic.