Abuse of the corporate veil: burden of proof and scope of anti-avoidance measures

by A&P, Fabrizio Ricci | 21 May, 2026 | Publications

Italian Supreme Court order no. 3728/2026 addresses the abuse of the corporate veil, confirming the broad scope of Article 37(3) of Presidential Decree no. 600/1973, which encompasses both fictitious and genuine interposition. The decision also reiterates the central...

Assignee of the receivable not entitled to issue a credit note

by A&P | 21 May, 2026 | Publications

In case T-233/25, the General Court of the European Union clarifies that the right to reduce the VAT taxable amount under Article 90(1) of Directive 2006/112/EC, and consequently to issue a credit note, remains with the person liable for the VAT arising from 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...

Participation exemption: abusive classification as a financial fixed asset of a shareholding already agreed for sale

by A&P, Fabrizio Ricci | 14 May, 2026 | Publications

The Italian Supreme Court addresses the requirements for the application of the participation exemption under Article 87 of the TUIR, with particular reference to the classification of the shareholding as a financial fixed asset in the first financial statements...

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...