Upcoming Reforms in Italian Tax Law: Key Changes to Extraordinary Transactions
MGI Worldwide accounting network member firm MGI Studio Pragma, based in Fano, Italy, provides insights into Italy's Proposed Tax Reform in its recent newsletter.
The Italian Parliament, through Law No. 111 of August 9, 2023, has empowered the government to restructure the domestic tax system. A key component of this reform is a proposed Legislative Decree focused on extraordinary transactions.
Cross-border mergers
One of the main provisions addresses cross-border mergers involving specific criteria. It applies to mergers between a company resident in the European Union or European Economic Area (with which Italy has an agreement for the exchange of tax information) and a company with tax residence in Italy. The rule is relevant when the merged entity is considered tax resident in Italy.
The draft Decree is expected to be approved by the end of 2024.
For any questions, please contact Francesco Bartolucci at [email protected]. Alternatively visit the firm's profile page or website.
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