The Italian government has issued the final draft of its ‘internationalisation decree’ (the Decree), which gives practical application to sections of the tax framework approved by the Italian parliament last year (Law 23/2014). Certain provisions in the package will impact foreign investors in real estate in particular.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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