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Italy Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
62,137,802 (July 2017 est.)
GDP (PPP)
$2.307 trillion (2017 est.)

Fourth largest economy in Europe

GDP growth rate
1.5% (2017 est.)

The Country is still recovering from a prolonged recession

GDP (PPP) per capita
$38,000 (2017 est.)

Medium to high

Local currency
Euro (EUR)

Second most important currency in the world after the USD

Financial stability (Public debt)
131.2% of GDP (2017 est.)

Very high, however a combination of returned GDP growth, low public deficits and a rebound in inflation are slowly lowering the ratio (total public debt covered)

Inflation
1.4% (2017 est.)

Still low but recovering from deflation

Language
Italian

English is spoken as a second language in the main urban or touristic areas

Corruption perception index (Source: Transparency International)
54/180

Medium to high level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
22% standard VAT rate
Reduced rates: 10% (electric power supplies for listed uses and listed drugs), 5% (certain health services), 4% (listed food, drinks, and agricultural products, and e-books)
Corporate Tax
24% standard corporate tax rate
3.9% regional corporate tax rate applies on a wider tax base
Duties
EU customs duties apply to the import of goods from outside the EU

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