The Italian budget law 2023 has introduced the so-called ‘Investment Management Exemption’ in order to give certainty to Investment Fund Management practices, with a particular focus to remove the risk for a permanent establishment in Italy for a non-Italian resident fund.
The Italian government approved on 16 March 2023 a delegation law, which indicates the guidelines for the reform but does not deal with fundamental implementation issues such as the level of tax rates, which is the subject of implementing decrees.
With Circular Newsletter No. 34/E the Italian Revenue Agency provides the long-awaited official guidelines about trust and taxation in Italy, setting some milestones on direct and indirect taxation, as well as on tax monitoring obligations with interesting positions applicable to International and cross border wealth and trust structuring.
Our Firm “Private Clients” practice provides a multi-jurisdiction professional services for global relocation and immigration, providing all tax&legal services, including yearly compliance, with the cooperation of our offices in London, Milan, Lugano and Singapore.
Belluzzo Mercanti welcomes the opportunity to contribute to the public consultation on the draft Circular Newsletter published by the Italian Revenue Agency concerning trusts’ direct and indirect taxation in Italy
Luigi Belluzzo fornisce un primo approfondito commento della Bozza di Circolare dell’Agenzia delle Entrate, pubblicata lo scorso 11 Agosto, che reca chiarimenti sulla disciplina fiscale relativa ai trust ai fini delle imposte sul reddito e della imposizione indiretta.
Belluzzo International Partners is a multidisciplinary, international and independent professional boutique that provides consultancy in the areas of Wealth, Law, Tax, Finance.
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