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Online Banking with Italian IBAN
- Thread starter Div72020
- Start date
Banca sella is good, you might be able to open it remotely (at least that was possible 20 years ago)
But this is only true if they investigate you and see that you are cheating! Your 75% includes the fines for tax evasion. You are lucky if it only 75% !! If you report all income via a professional Commercialista, then they do nothing. Italian tax rates are published, well-known and not that bad, so if somebody complains, then they are either very stupid or engaged in illegal activity.
csp Dubai got a point.
If you factor all the hidden taxes (and costs) you pay when running an Srl it leads up to 72-75 % effective corporate tax in most sectors.
Tough there are a few ways to lower that rate, especially if you are favouring a local politician or doing the nation’s interest
And Agenzia delle entrate can be pretty random in finding troubles with your business (depends much on your negotiation skills )
I personally wouldn’t recommend doing business with any of the italian banks as the often charge hidden fees or make it look you are paying low commissions when you are not.
Yet : banca sella is good if you are a small merchant with a physical location together with the digital e-commerce.
I would vouch for UniCredit if you deal with real estate or you plan to do loans and stuff…
You could go with unicredit’s fintech subsidiary fineco if it just a simple check collection account for the e-commerce
If you factor all the hidden taxes (and costs) you pay when running an Srl it leads up to 72-75 % effective corporate tax in most sectors.
Tough there are a few ways to lower that rate, especially if you are favouring a local politician or doing the nation’s interest
And Agenzia delle entrate can be pretty random in finding troubles with your business (depends much on your negotiation skills )
I personally wouldn’t recommend doing business with any of the italian banks as the often charge hidden fees or make it look you are paying low commissions when you are not.
Yet : banca sella is good if you are a small merchant with a physical location together with the digital e-commerce.
I would vouch for UniCredit if you deal with real estate or you plan to do loans and stuff…
You could go with unicredit’s fintech subsidiary fineco if it just a simple check collection account for the e-commerce
20 years ago.... 20 years ago you could register a 500$ Seychelles company and get a Cyprus bank account without even to provide anything else than a total fake passport
To add to the options for those who have relatively small businesses, there is a flat rate regime (forfettario) with a 5% tax for the first five years then 15% onwards.
Yes I know, as I mentioned it's for relatively small businesses (well one could actually keep the invoices up to that amount and settle payments differently..). Anyway, it's not for everyone, also, the Govt establishes coefficients on your business, so for example they assume you earn 68 per cent of what you invoice, so the five per cent is calculated on that 68 per cent presumed earnings, if your mark-up is much less then the five per cent tax is not real but could be much more than that. So yeah not for everyone. Also as you noted no deductions, even VAT is a cost. A big pro in my opinion is that there is no accounting needed whatsoever, which helps in many ways.
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