All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

Moving forward to find solutions – ITR's Italy Special Focus launched

editorial-as316761064.jpg

Leaving behind the uncertainties of 2020, ITR looks forward by partnering with leading Italian tax advisors to examine Italy’s tax landscape for 2021.

Click here to read all the chapters from ITR's Italy Special Focus 

2020 turned out to be a year unlike any other as businesses and governments all over the world faced the most unexpected challenges. Italy responded to the economic distress caused by COVID-19 through the introduction of unifying tax measures to protect the economy and the livelihood of its people. 

To ease business dynamics, policy makers notably sought to improve Italy’s tax disputes framework by adapting clearer guidelines when handling advance pricing agreements (APAs) and mutual agreement procedures (MAPs). The government were also busy with the interpretation and application of EU law to improve tax compliance and reporting functions.

Looking ahead, ITR has partnered with three leading firms to bring you practical insight from the Italian tax world to consider for 2021.

The article by Chiomenti explains why Italy’s implementation of Council Directive 2017/1852 on tax dispute resolution mechanisms, has been largely welcomed by businesses and taxpayers. The measures will broaden the scope of MAPs and provide additional effective tools to taxpayers affected by international double taxation issues.

The 2021 Budget Law modified the APA procedure, introducing new aspects concerning the application of ‘roll-backs’ and providing the payment of a fee in order to start these procedures. Crowe Valente/Valente Associati GEB Partners discuss the changes and consider how multinational corporations may be affected.

Italy’s DAC6 Law is predominantly in line with the scope and requirements of the European original, which seeks to increase the level of transparency surrounding harmful tax practices. LED Taxand explore the peculiarities in the country’s DAC6 implementation that must be considered in cross-border arrangements.

We hope you find the third edition of our Italy guide to be an interesting read.

Click here to read all the chapters from ITR's Italy Special Focus 

more across site & bottom lb ros

More from across our site

The Malawian government has targeted US gemstone miner Columbia Gem House, while Amgen has successfully consolidated two separate tax disputes with the Internal Revenue Service.
ITR's latest quarterly PDF is now live, leading on the rise of tax technology.
ITR is delighted to reveal all the shortlisted firms, teams, and practitioners for the 2022 Americas Tax Awards – winners to be announced on September 22
‘Care’ is the operative word as HMRC seeks to clamp down on transfer pricing breaches next year.
Tax directors tell ITR that the CRA’s clampdown on unpaid taxes on insurance premiums is causing uncertainty for businesses as they try to stay compliant.
HMRC has informed tax directors that it will impose automated assessments on online sellers with inaccurate VAT returns, in a bid to fight fraud.
UK businesses need to reset after the Upper Tribunal ruled against BlackRock over interest deductions it claimed on $4 billion in inter-company loans, say sources.
Hong Kong SAR’s incoming regime for foreign income exemptions could remove it from an EU tax watchlist but hand Singapore top spot in APAC.
Congress passed legislation with $52 billion in tax credits and other incentives on July 28 to boost production at US semiconductor companies.
This week the US Senate reached a historic compromise to secure a corporate minimum tax rate, while the UK is facing tax cuts no matter who succeeds Prime Minister Boris Johnson.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree