On 17 March 2020, the Italian Government enacted the so called “Cura Italia” law decree, with the aim of issuing urgent measures to address the economic and social impact of the COVID-19 emergency) (the Decree}. The Decree...more
BACKGROUND -
The Covid-19 pandemic will likely affect the business of Italian companies in the short and medium term. Accordingly, Board of Directors are currently reviewing their dividend distribution policies....more
Brexit -
Italian financial transaction tax implications: the market making exemption -
This briefing note outlines the impact of Brexit for UK based market makers and their ability to take advantage of the Italian...more
On 2 August 2017, the Italian Parliament has adopted the Italian Competition Law, following a complex and long legislative procedure. As already reported, an intense debate surrounded the discussion and the approval of the...more
K&L Gates' Global Tax Group has been monitoring the potential impact of the Border Adjustment Tax (BAT) across a number of jurisdictions.
In our 14 February 2017 update, we commented that issues regarding the legality of...more
The Italian Council of State (“CdS”) has recently annulled a EUR 29 million fine imposed by the Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato, “AGCM”) in 2015 on two insurance companies for...more
On 15 February 2017, the Organization for Economic Cooperation and Development (“OECD”) published its economic survey of Italy. Among other things, the 156 page report recommends that Italy passes its proposed competition...more
On 14 January 2017, following the approval by the competent parliamentary committees, the Italian Government has definitively adopted Legislative Decree n. 3 of 2017 (“Decree”) implementing in Italy Directive 2014/104/EU on...more
On 27 October 2016, the Italian Government adopted a draft decree (“Draft Decree”) implementing Directive 2014/104/EU on antitrust damages actions (“Directive”), which aimed at making easier for victims of antitrust...more
The Italian Government has recently approved a new decree, which reshapes the definition of abuse of law and tax avoidance and changes the rules on the statute of limitations in the event of tax crimes. The decree also...more