Posted in Tax Law

Italy: Tax News for 2017

Corporate income tax will drop from 27,5% to 24% (except for Banks, parent companies of banking groups, individual asset management companies, financial intermediaries, electronic money institutions, payment institutions, and financial companies).

These same excepted companies are no longer subject to the 96% cap on deduction of interest payable.

New rules apply whereby companies can transfer to affiliates the tax losses generated in the first three-year period of operation (upon 5 conditions).

And more changes to come.

Source

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