Interest expense deductibility changes for multinational groups

19 May 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

Article 4 of the scheme of decree including measures for growth and internationalization – approved in a preliminary vote by the cabinet on April 21, 2015 – deals with interest expense and includes important changes for multinational groups (i.e. Italian companies that own non-resident subsidiaries).
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Clarified the deduction of interest for real estate companies

08 May 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

Among the new measures on tax treatment of interest expenses included in the outline of measures approved by the government on April 21, the clarification about the total deductibility of such costs in the hand of real estate companies is worth a closer look.
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The international ruling gets a total makeover

28 Apr 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

There is a new look for the standard ruling concerning businesses with international activities. The bill approved on April 21 contains numerous revisions of the tax system to facilitate growth and internationalization.
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The ruling on new investments makes its debut

28 Apr 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

The ruling on new Investments contained in the draft legislative decree approved by the government on April 21 aims to give certainty to taxpayers regarding the tax profile of investments that they plan to make in Italy.
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Leveraged buyout, an acquisition structure with a complicated relationship with the Italian tax authorities

27 Mar 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

Italian Tax Authorities usually challenge the leveraged buyout transactions under the consideration that at the end of the acquisition process a significant debt is allocated to the operating company. The debt, obviously, generates interest able to reduce the company’s taxable income and this seems to be an event to be duly investigated. The leveraged buyout (Lbo) is a method for acquiring a company, well known in the US since 1960 and frequently applied also in Europe in the following decades.
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Rent-to-buy, a new scheme to become homeowners

16 Mar 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

The “rent-to-buy” Agreement, well known and used in the United States, will also be used in Italy. With the tight credit market and stricter down payment requirements, rent-to-buy has emerged as a trend for people who otherwise would not be home buyers. With the real estate market prices dropping and credit access not as easy for the middle class, consumers are taking a harder look at rent-to-buy agreements, in which potential home owners commit to a multi-year lease with a future option to buy the property.
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How to approach badwill from a tax standpoint

09 Mar 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

The difference between assets and liabilities gives the net value of a going concern. Usually, the amount paid by the buyer to the seller is higher and the difference (if not related to specific assets) is qualified as goodwill, which is the capacity of the going concern to make a profit.
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“PATENT BOX”: IL REGIME OPZIONALE PER GLI “INTANGIBLES”

02 Mar 2015

Dott. Gian Marco Committeri

Dott. Gian Marco Committeri

Il disegno di legge di stabilità 2015 contiene importanti misure agevolative relativamente alla fiscalità riservata ai redditi generati da beni immateriali (“Patent box”). Per i soggetti che generano redditi attraverso l’uso di determinati “intangibles”, direttamente o attraverso la concessione in uso a terzi, è prevista la possibilità di optare per un regime agevolativo che li detassa per il 50%. L’opzione sarà vincolante per 5 esercizi e, per il caso di utilizzo diretto dei beni, la quantificazione dei redditi avviene attivando apposita procedura di “ruling”. È prevista inoltre la detassazione integrale delle plusvalenze realizzate attraverso la cessione degli “intangibles” a condizione che almeno il 90% del corrispettivo sia reinvestito, entro i due esercizi successivi, nella manutenzione o sviluppo di altri beni immateriali agevolabili.
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