Update - Italian Parliament 2016 Budget Law Measures

Italy's 2016 Budget Law (Law No. 208/2015) was approved by parliament on 22 December 2015 and published in the Official Gazette on 30 December. In addition to the new {News-2015-12-28/A/4- Country-by-Country reporting requirements previously covered}, other important measures included in the Budget Law are as follows.

Corporate Tax Rate Increase

For most companies, the corporate tax rate will be reduced from 27.5% to 24% from 2017. However, the rate for banks and other financial entities w…