Italy operates one of the most distinctive severance pay systems in Europe. Known as Trattamento di Fine Rapporto (TFR), it functions as a form of deferred compensation that accrues throughout the entire duration of the employment relationship — regardless of the reason for termination. For workers, the TFR represents a … Read the rest
Businesses entering the Italian market often assume that their existing know-your-customer procedures will satisfy local anti-money laundering requirements. In practice, Italy’s customer due diligence obligations go considerably further than what most international firms are accustomed to, creating a compliance gap that can lead to significant penalties. The Italian framework treats … Read the rest