06 September 2016

Italy issues new guidance on CFC regulations

The Italian Tax Authorities (ITA) issued Circular n. 35/E (the Circular) on August 4, providing extensive clarifications on the Italian Controlled Foreign Companies (CFC) regime. The Circular also summarizes the recent changes to the CFC rules introduced by 2015 and 2016 Budget Laws (Law n. 190/2014 and Law n. 208/2015) as well as by Legislative Decree n. 147/2015 (Internationalization Decree).

A Tax Alert prepared by Ernst & Young Italy, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1492

Document ID: 2016-1492