Italy issues draft Public CbCR decree

17 June 2024|Tax Alerts, Legislation & Policy, National/Federal Taxation, Transfer Pricing|Italy

On 10 June 2024, the Italian Council of Ministers approved a draft legislative decree introducing Public Country-by-Country Reporting (PCbCR) legislation (Draft Decree) in Italy, which is now awaiting Parliament's opinion.
In line with European Union (EU) Directive n. 2101 of 24 November 2021 (Country-by-Country Reporting or CbCR Directive), reporting obligations apply to Multinational Groups (MNEs) with consolidated turnover exceeding €750m in each of the last two consecutive financial years.
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