Italy recently adopted Law n. 160 of 2019, implementing its Budget Law for 2020. The adoption follows the approval of the Law on December 27, 2019, and the Law’s publication in the Official Gazette on December 30, 2019. The Law contains several corporate tax provisions, including a digital services tax and reintroduction of a notional interest deduction for capital injection.
The Italian Budget Law includes several important measures, introducing both ‘new’ tax benefits (for example, the NID), credits, and also adopts new taxing measures such as the DST. These new opportunities and challenges will impact multinationals significantly.
