Italy Consults on Draft Transfer Pricing Regulations

On 21 February 2018, Italy's Ministry of Finance launched a public consultation on draft transfer pricing regulations. The draft regulations concern the implementation of certain measures of Law No. 96 of 21 June 2017 ({News-2017-06-28/A/3-previous coverage}), which includes amendments to the application of the arm's length principle to bring it more in line with OECD principles, and also expands the availability of corresponding downward adjustments, including when requested by a taxpayer.