Merger of UK companies with Italian PEs: tax consequences
On 12 February 2008, the Italian tax authorities issued Ruling No. 42, relating to an extraordinary transaction carried out by two UK companies having permanent establishments in Italy. In particular, the ruling deals with the qualification of the transaction, carried out under UK law, as a merger by acquisition under EU Directive No. 855 of 9 October 1978, and subject to the provi…
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