On 1 March 2022, Italy’s Law Decree n. 17, referred to as the “Energy Decree,” was published in the Official Gazette and entered into force on the same day. While immediately in effect, the Decree will have to be converted (with potential changes) into Law within 60 days from its publication to remain in force.
Among others, the Energy Decree revamps a one-off opportunity to elect a tax step-up of participations in unlisted Italian companies and land (both buildable and agricultural). Individual…