The Italian government is working to finalize a draft legislative decree to amend current tax law to comply with the EU Anti-Tax Avoidance Directive (ATAD1), as well as the Directive as amended (ATAD2). Key changes are summarized as follows:
- The current 30% of EBITDA interest deduction restriction will be amended in line with ATAD1 to provide that:
- The qualifying EBITDA amount will be determined based on corporate income tax values instead of accounting values, with items of income that are …