Corporate tax residency: the Italian Supreme Court reaffirms the centrality of the place of effective management

by A&P, Matteo Aicardi | 21 May, 2026 | Publications

With order no. 3591/2026, the Italian Supreme Court reaffirms, in the context of corporate tax residency (so-called esterovestizione), that the decisive criterion under Article 73(3) of the TUIR is the place where the entity’s effective management and decision-making...

PEX regime and the business activity requirement: the Italian Supreme Court narrows the scope for development companies

by A&P, Matteo Aicardi | 9 Apr, 2026 | Publications

The Italian Supreme Court, in decision no. 6732/2026, narrows the scope of the PEX regime with respect to the business activity requirement. In particular, the Court excludes that activities typical of the early stages of real estate development – such as asset...

Transfer of Equity Interests and Control Requirements

by A&P, Matteo Aicardi | 23 Mar, 2026 | Publications

Matteo Aicardi analyzes Italian Supreme Court decision no. 6799/2026 on the inheritance and gift tax exemption under Article 3(4-ter) of the TUSD. The ruling confirms a strictly formal interpretation of the control requirement, limited to legal control under Article...

Tax-favoured conversion into a simple partnership at risk of abuse if followed by a real estate disposal

by A&P, Matteo Aicardi, Fabrizio Ricci | 3 Mar, 2026 | Publications

The recent reopening of the tax-favoured conversion regime into a simple partnership provides a significant opportunity to extract real estate assets no longer instrumental to the business at more favourable tax conditions. However, where the transaction is followed...