The extent of banks liability arising from Decree 231/2001 depends on the interpretation that will be defined by the case law with regard to the suitability of the organizational model introduced by the same Decree. In the meanwhile, the first Italian legal judgments have affirmed its...

Class action, regulated by art. 140 of the Italian consumers’ code, is an important legal institution also related to pre-determination of payable damages.A recent class action, involving an Italian banking group, has been rejected by the Italian Court and provided the opportunity to address...

In order to combat against the phenomenon of tax evasion, the Government has to make choices that imply a significant change of its traditional modus operandi with regard to firms with large debts and tax liabilities

A special stamp tax has been introduced in Italy on financial assets declared on the basis of provisions regulating the «Scudo Fiscale» (Tax Shield Act). The new tax will apply to taxpayers who took advantage of the tax shield in the past and decided to keep the declared assets segregated

Italian savings is a necessary condition for economic growth and employment development and for this reason it deserves respect and appreciation. It must be supported both by the State and banks and financial intermediaries with initiatives aimed to improve communication, financial education and...

Over the years, the fiscal discipline of the real estate investment funds has been affected by various regulatory measures with the aim to introduce a favourable tax treatment and to prevent their misuse

Italy has recently introduced a financial transactions tax, applied on a range of financial assets, from equities to derivatives, with an emphasis on high frequency trading

The change in taxation for Italian mutual funds establishes a level playing field among European products but introduces complexities in making a choice between mutual funds and pension funds (still taxed with maturity method), suggesting the necessity of a similar reform for pension funds taxation.

The Italian Government has introduced significant changes to the tax treatment of capital gains and other financial incomes. The new fiscal framework will impact on Italian financial markets in 2012 influencing investors’ choices.

The introduction in the Italian legislation of the new instrument of mediation in tax disputes of an amount not exceeding € 20.000 is aimed to increase the use of out of court disputes resolution and to develop tax compliance