A new bill in Italy aims to aims to address the regulatory and fiscal problems associated with the sharing economy, reports ZDnet.com.

In March, a group of MPs introduced a bill that will tackle different aspects of the sharing economy such as competition and consumer protection.

The bill will create a specific fiscal category called 'income from non-professional sharing-economy activity', which will be taxed at a flat rate of 10% until it reaches €10,000 per year. Beyond that cap, such earnings will add to a person's other income and be taxed accordingly.

Moreover, the bill will also introduce several criteria that a company has to meet in order to be considered part of the sharing economy. For example, good that will be shared and can produce value will have to be owned by the users and not the platforms.

According to the bill, a company that meets all the criteria should submit a policy statement that would have to be approved the antitrust authority.

The bill will be open online for comments until the end of May.

Meanwhile, the European Commission is expected to publish its guidelines on how to apply existing EU legislation on the sharing economy in mid-2016.