According to the ruling of the Italian Revenue Agency dated 1 April 2026, No. 97, the disposal of shareholdings in companies engaged in the construction of electricity generation plants does not meet the commerciality requirement pursuant to Article 87(1)(d) of the TUIR for the purposes of the participation exemption, where the operational structure is not [...]

The ruling of the Corte di Cassazione of 23 March 2026, No. 6732, addressed the existence of the requirement of commercial activity for PEX purposes in relation to a company that initiated a redevelopment project concerning a real estate complex of a former foundry. It is noted that the rationale of Article 87 of the [...]

  In determining the holding period of the shareholdings received as a result of a business contribution pursuant to Article 176 of the Italian Income Tax Code (TUIR), the relevant period is the time during which the business or business unit, considered as a whole, has been held. The acquisition date of the individual assets [...]

By order No. 5582 of 12 March 2026, the Italian Supreme Court (Corte di Cassazione), concerning the subordination of the repayment of shareholders’ loans in favour of the company (Art. 2467 Italian Civil Code), reaffirmed that: the notion of “financing”, for the purposes at issue, also includes the granting of security interests or, as in [...]

The agenda item of 29 December 2025 No. 9/2750/168 committed the Government to assess the appropriateness of taking any initiative aimed at clarifying, including through administrative means, that club deal transactions carried out through the incorporation of a special purpose vehicle do not constitute transactions intended to circumvent obligations or prohibitions provided for by law [...]

The judgment of the C.G.T. I Como of 4 November 2025 no. 297/1/25 confirmed the principle established by the Supreme Court case law (Cass. 1 September 2022 no. 25698; Cass. 16 April 2024 no. 10204), according to which taxes paid abroad by individuals resident in Italy on dividends taxed in Italy by way of final [...]

In order no. 1358/2026, the Italian Supreme Court (Corte di Cassazione) held that, pursuant to Article 2476(8) of the Italian Civil Code, a non-managing shareholder of an S.r.l. is not jointly and severally liable with the director for any act of mismanagement (mala gestio) merely by virtue of being the company’s “owner”. Such liability arises [...]

  For all foreign-source dividends resolved as from 1 January 2026, the 95% exemption from inclusion in business taxable income is subject to the same conditions applicable to Italian-source dividends, pursuant to the new Article 89, paragraph 2.1, letter (a) of the Italian Income Tax Code (TUIR). Such conditions require a shareholding in the issuer’s [...]

Article 44 of Law No. 182/2025, inter alia, has abolished the right of aggrieved forced heirs to seek restitution from third-party purchasers of immovable property which the deceased’s donee has transferred to them. The new regime applies to successions opened after 18 December 2025, while a transitional regime applies to successions opened prior to that [...]

  The higher values inherent in the permanent establishment are deemed to be realised, resulting in the taxation of latent capital gains: upon the cessation of the permanent establishment, including cases where the related assets are transferred to the head office; in the event of a transfer of the permanent establishment to third parties. In [...]