diff --git a/erpnext/public/js/setup_wizard.js b/erpnext/public/js/setup_wizard.js
index 9beba6adf8d..5d21190e378 100644
--- a/erpnext/public/js/setup_wizard.js
+++ b/erpnext/public/js/setup_wizard.js
@@ -309,7 +309,6 @@ erpnext.setup.fiscal_years = {
 	"Hong Kong": ["04-01", "03-31"],
 	"India": ["04-01", "03-31"],
 	"Iran": ["06-23", "06-22"],
-	"Italy": ["07-01", "06-30"],
 	"Myanmar": ["04-01", "03-31"],
 	"New Zealand": ["04-01", "03-31"],
 	"Pakistan": ["07-01", "06-30"],
diff --git a/erpnext/setup/setup_wizard/data/country_wise_tax.json b/erpnext/setup/setup_wizard/data/country_wise_tax.json
index 19318df38e0..beddaeed793 100644
--- a/erpnext/setup/setup_wizard/data/country_wise_tax.json
+++ b/erpnext/setup/setup_wizard/data/country_wise_tax.json
@@ -60,14 +60,10 @@
 	},
 
 	"Australia": {
-		"Australia GST1": {
+		"Australia GST": {
 			"account_name": "GST 10%",
 			"tax_rate": 10.00,
 			"default": 1
-		},
-		"Australia GST 2%": {
-			"account_name": "GST 2%",
-			"tax_rate": 2
 		}
 	},
 
@@ -648,10 +644,19 @@
 	},
 
 	"Italy": {
-		"Italy Tax": {
-			"account_name": "VAT",
-			"tax_rate": 22.00
-		}
+		"Italy VAT 22%": {
+			"account_name": "IVA 22%",
+			"tax_rate": 22.00,
+			"default": 1
+		},
+		"Italy VAT 10%":{
+			"account_name": "IVA 10%",
+			"tax_rate": 10.00
+		},
+		"Italy VAT 4%":{
+			"account_name": "IVA 4%",
+			"tax_rate": 4.00
+		}		
 	},
 
 	"Ivory Coast": {