With its Ruling n. 4091 of June 12, 2017, the Eighth Department of Tax Commission (District Tax Court) of Milan, Italy ruled that upon the cancellation of an inter company loan from a Dutch parent company to its Italian subsidiary, the interest accrued on the loan and deducted by the Italian subsidiary on an
September 2017
Italy Implemented the IV Anti Money Laundering Directive: What is Relevant For Trusts
By Marco Rossi on
With the Legislative Decree n. 90 of May 25, 2017, published on June 19, 2017 Italy finally adopted and transposed into its own legal system the EU Directive 2015/849, usually referred to as the “IV Anti Money Laundering Directive”.
One area that attracts particular attention concerns the new reporting rules applicable to trusts.
Article 21,…
Italy’s Tax Agency Issues Guidance on Taxation of Neo-Tax Residents Under The Fixed-Amount Tax Elective Regime
By Marco Rossi on
With Circular 17/E of May 23, 2017 Italy’s Tax Agency provided administrative guidance on the interpretation and application of the provisions on the elective preferential tax regime for Italian new-tax resident individuals.
New article 24-bis of Italy’s Unified Income Tax Code, enacted with Law n. 232 of December 2016, provides that foreign-resident individuals who…