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Italy approves BEPS Pillar Two provisions and other significant tax changes including ATAD 2 hybrid mismatches penalty protection regime

|Tax Alerts, Information Reporting, Legis ...|Italy
Italy

  • Significant tax measures have been approved as part of the announced tax reform.
  • BEPS Pillar Two measures have been implemented as well as changes to domestic CFC rules for coordination with the global minimum tax provisions.
  • Other changes include a penalty protection regime for ATAD 2 hybrid mismatches, a business reshoring exemption and the review of tax residence rules.

Executive summary

On 19 December, the Italian government has approved significant measures as a first phase of the upcoming comp…

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