Learn Italian: Ma non è vero. - But it is not true.

In Italian, the negative word non always goes immediately before the conjugated verb. While in English we say 'is not' (verb + not), Italian does the opposite: non è (literally 'not is').

Where is the word for 'it' in this sentence?

Italian frequently drops subject pronouns like 'it' because the verb itself shows who or what is doing the action. The verb è can mean 'he is', 'she is', or 'it is'. Since the context usually makes it clear, you do not need to add a separate word for 'it'.

Why does vero end in -o?

Vero is an adjective meaning 'true'. Because it describes a general, abstract 'it' rather than a specific feminine noun, it takes the default masculine singular ending -o.