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 [...]

General rule Deceased/donor resident in Italy: The tax applies to all transferred assets and rights, wherever located (worldwide taxation). Deceased/donor not resident in Italy: The tax applies only to assets and rights situated in Italy. Assets deemed “in any event” to be situated in Italy (for territorial purposes), notably: Assets and rights registered in Italian [...]

Recently, the Court of Cassation, in Order No. 5318/2025, ruled that there is an absolute incompatibility between the status of an employee of a company limited by shares and the holding of the office not only of sole director, but also of chairman of the board of directors (see also Court of Cassation No. 36362/2021).

In its ruling of 1 December 2025, No. 299, the Italian Revenue Agency provided clarification regarding abuse of law in connection with “one-coupon” bonds where there is a timing mismatch between the issuer’s deduction of interest expense and the taxation of interest income for investors. The Agency held that there is no abusive tax advantage: [...]

n judgment C-525/24 of 27 November 2025, the Court of Justice of the EU clarified issues concerning non-resident pension funds and corporate income tax on dividends. The Court held that EU law prevents a Member State from requiring a non-resident pension fund to prove compliance with the substantive conditions for obtaining a refund of withholding [...]