Late-issued certificates and the Parent-Subsidiary exemption: the Italian Supreme Court confirms a substance-over-form approach

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

Italian Supreme Court order no. 13128/2026 clarifies that the late receipt of a certificate issued by the foreign tax authority does not preclude the withholding tax exemption on EU dividends under Article 27-bis of Presidential Decree no. 600/1973, provided that the...

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...

ax treatment of negative goodwill for IAS adopters: the new timing rule

by A&P, Giulia Geminiani, Matteo Aicardi | 8 May, 2026 | Publications

Article 3 of Decree-Law no. 38/2026 introduces a specific tax regime for negative goodwill recognised by IAS adopters in business transfer transactions. The amount recognised in the income statement is included in the IRES and IRAP tax base in five equal annual...

Corporate tax residency, effective establishment and VAT territoriality: the Italian Supreme Court’s position

by A&P, Matteo Aicardi | 7 May, 2026 | Publications

Italian Supreme Court decisions nos. 7692/2026, 7694/2026 and 8714/2026 address corporate tax residency issues with specific reference to the VAT place-of-supply rules applicable to B2B services. The Court clarifies that identifying the centre of management or the...

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...