Italian tax changes: implications for medium- and long-term banking arrangements
International retail businesses that have businesses or subsidiaries with banking facilities in Italy should be aware of recent tax changes within the country. The changes apply to medium- or long-term loans executed and granted by a bank or financial institution in Italy (loans longer than 18 months are considered medium- and long-term loans).
The previous rule consisted of a mandatory application of the substitutive tax. The substitutive tax applied a tax rate of 0.25 per cent on the amount of the loan, instead of applying registration tax, stamp duty, mortgage and cadastral tax and franchise tax.
The new rules now allow borrowers to choose which taxation regime should be applied to the loan, and the decision must be made in writing in the relevant loan agreement or banking documentation…
Click on the link below to read the rest of the Eversheds briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Eversheds
News from The Lawyer
Briefings from Eversheds
Eversheds’ retail finance briefing is designed to keep you up to date with the latest legal, regulatory and industry developments affecting the retail finance industry.
Welcome additional form of protection for financial institutions and their employees.
Analysis from The Lawyer
Eversheds is no stranger to an international tie-up but now it’s in the market for the jewel in its global crown
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all