Italy's Digital Services Tax took effect 1 January 2020.
A new tax amnesty program has been launched in Italy (please refer to Law Decree No. 119, dated October 23, 2018). The program is already effective, but has to be converted into law by December 22, 2018.
The program offers relief from certain penalties and interest if taxes are paid in full. In some instances, the taxes could be paid in instalments over a period of time.
In October 2018, the Italian Tax Authorities (ITA) issued clarifications on the possibility of transfers of excess tax credits between group companies. The transfers relate to excess tax credits generated by a company before entering into the group consolidation. The information issued by the ITA includes a clarification that qualifying excess tax credits must be certified in the tax return of the assignor as well as the consolidated tax return of the group.
A bill has been issued in Italy to transpose the EU directives on anti-tax avoidance (ATAD) into Italian law. If accepted the bill would replace current laws on interest deduction for corporate entities, exit and entry tax rules, and CFC rules. Once enacted, the legislation is likely to apply to calendar year 2019.