As previously reported (see Italy-1, News 29 December 2011), on 22 December 2011, the Parliament approved the latest austerity package (Law Decree 201/2011). Details of the main provisions are summarized below.
Corporate taxation
(a) Notional interest deduction. Starting from fiscal year 2011, a deduction from corporate income tax base is allowed equal to the notional yield of qualifying equity increases compared to the equity resulting from the balance sheet as …