Italian decree allows MNCs to defer Exit Tax

July 2013

Overview

A long awaited ministerial decree on the deferral of capital gains tax (Exit Tax) arising from a tax residence transfer from Italy to another European Union (EU) Member State, Iceland or Norway is currently awaiting the Ministry of Finance’s signature.

The new Exit Tax regulations may have a significant impact on Italian resident companies. Going forward, taxpayers may find it easier to move their tax residence to another EU member State. Nevertheless, interested taxpayers should look carefully at the new and forthcoming decrees before moving their tax residence.

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