Italy releases initial guidance on taxation of carried interest

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November 2017


The Italian tax authorities released, on October 16, 2017, Circular n. 25/E, which includes initial guidance on taxation of carried interest, commonly known in Italy as the ‘carry.’  The tax rules on the carry were introduced a few months ago in Law Decree n. 50/2017.

The takeaway

Private equity fund managers should carefully consider the new guidance and address any possible impact on their carry schemes before implementing them or cashing in any carry.

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Michael Urse

Partner, International Tax Services, PwC US

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