On 18 February 2025, the Italian Revenue Agency issued Ruling n. 38/2025 (the "Ruling"), commenting the enactment of the Decree-Law No. 131 of 16 September 2024 ("Decreto salva infrazioni" – converted into Law No. 166 of 14...more
Through the conversion of Law Decree No. 39/2024 into Law No. 67 of 23 May 2024 (the "Tax Bonus Decree"), the Parliament has now approved a number of restrictions substantially limiting the benefits of the so-called...more
This booklet has been written specifically for business individuals and whilst it may be of interest to their local advisers, such as lawyers or accountants, the information is intended for a wider audience. We cover topics...more
In March 2021, the Financial Conduct Authority (FCA) and the ICE Benchmark Administration, the administrator of LIBOR, announced that sterling, euro, Swiss franc and Japanese yen LIBOR panels, as well as panels for one-week...more
Italian tax authorities address for the first time the VAT regime applicable to the assignment of NPLs. On the very last day of 2021 the Italian Revenue Agency issued a remarkable ruling (no. 79/E) on the VAT regime...more
Following the tax relief introduced by Article 22 of Law Decree No. 124/2019, as converted into law by Law No. 157/2019, according to which merchants may obtain tax credits of 30% of the fees charged for the acceptance of...more
With ruling No. 132 of 2 March 2021 (the “Ruling”), the Italian Tax Authorities (“ITA”) provided clarifications on the tax regime applicable to real estate special purpose companies (the “RE SPVs”) carrying out securitisation...more
3/12/2021
/ Capital Markets ,
Debt Market ,
EU ,
Income Taxes ,
Italy ,
Real Estate Investments ,
Realty Transfer Taxes ,
Securitization ,
Special Purpose Vehicles ,
Tax Liability ,
Value-Added Tax (VAT)
The 2021 Italian Budget Law aligns the tax treatment applicable to EU investment funds with the tax treatment applicable to Italian investment funds....more
1/18/2021
/ Capital Gains ,
Dividends ,
EU ,
Future Tax Treatment ,
Investment Funds ,
Italy ,
Non-Residents ,
Tax Exemptions ,
Tax Planning ,
UCITS ,
Withholding Tax
The Italian Government repealed the tax, introduced in 2018, on money remittances outside EU executed through payment institutions....more
Article 4 of Decree Law no. 124 of 26 October 2019 introduced as from 1 January 2020 -
for all clients of contracts for the supply of services, including those with consortium's members, sub-contracts and "contractual...more
With the approval of Law 27 December 2019, no. 160 (the Budget Law), the Italian digital services tax (the DST), initially provided by Law 30 December 2018, no. 145, has finally come into force, being effective as of 1...more
1/13/2020
/ Data Collection ,
Data Transfers ,
Digital Downloads ,
Digital Goods ,
Digital Services ,
Digital Taxes ,
EU ,
Goods or Services ,
Graphical User Interface ,
International Tax Issues ,
Italy ,
New Legislation ,
Online Advertisements ,
Tax Liability ,
Tax Rates ,
Value-Added Tax (VAT)
The Web Tax Italy has introduced a new so-called “Web Tax”, a new tax on certain digital transactions. This will apply from 1 January following the issue of the relevant Decree of the Ministry of Economy and Finance, most...more
The Italian Government has at last put an end to the controversy around the characterisation of 'carried interest' for tax treatment purposes. By Law Decree no. 50 of 24 April 2017, which is to be brought into law by 23 June...more