Italy removed Cyprus and Malta from black list for purposes of CFC rules and Italian rules on tax residency of individuals.
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New Law Requires Additional Disclosure of Abusive Transactions
By Marco Rossi on
Italy reinforces its anti abuse rules by requiring separate monthly or quarterly disclosure of transaction with foreign enterprises organized in black listed jurisdictions. Deduction of costs and expenses arising from those transactions is denied unless taxpayer proves legitimate business purpose beyond tax saving.
Continue Reading New Law Requires Additional Disclosure of Abusive Transactions