Kosovo and Italy abolish double taxation - More favorable environment for investment and economic development
The Tax Administration of Kosovo announced that the implementation of the agreement with Italy for the elimination of double taxation and the prevention of tax evasion and avoidance in the field of income tax has begun.
According to the announcement, this agreement aims to advance economic relations between the two countries and strengthen cooperation on tax issues. It eliminates the burden of double taxation for individuals and businesses, creating a more favorable environment for investment and economic development.
The agreement also addresses the prevention of tax evasion and avoidance, by restricting the use of schemes that lead to non-declaration or incorrect declaration of income. It clearly defines the categories of persons covered and the ways of treating income for tax purposes, in accordance with the relevant legislation of each country.
It applies to persons resident in one or both contracting states and treats income originating through various entities or arrangements, guaranteeing a clear legal framework.
The agreement also ensures respect for the tax rights of both countries, defining the cases when the benefits from this agreement can be applied.
The implementation of this agreement is considered an important step towards strengthening economic cooperation between Kosovo and Italy, as well as increasing legal security for investors and businesses operating in both markets.
Meanwhile, Kosovo continues to expand its network of international agreements in the field of taxation and currently has a total of 22 agreements in force for the elimination of double taxation with various countries.
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