Italy on Tax Authorities

With decision no. 22608/2024, the Italian Court of Cassation confirms the deductibility of VAT on transaction costs incurred by the SPV in the context of merger leveraged buy-out (MLBO) transactions.

With Ruling no. 172 dated August 20, 2024, the Italian Tax Authority clarifies that interest expenses due in connection with higher taxes resulting that become due as a result of a tax settlements are fully deductible.

Starting as from September 1, 2024, new regulations regarding tax administrative penalties introduced by Decree No. 87 of June 14, 2024 ("Decree"), have officially come into effect.