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ARTICLE · 29 JANUARY 2020

Italian Budget Law For 2020 Enacted

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On December 24, 2019, the Italian Parliament approved the Budget Law for 2020, which contains a package of tax increases and decreases with varying effective dates, described below.

ItalyTax
Marco Lombardi
Marco Lombardi
Luca Ferrari
Luca Ferrari
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In Short

The Situation: On December 24, 2019, the Italian Parliament approved the Budget Law for 2020.

The Result: New favorable tax changes have been introduced, but also new taxes will be imposed on digital services and the consumption of plastics and sugar.

Looking Ahead: Multinationals should reconsider debt/equity ratio in light of the newly reinstated notional interest deduction system and consider making step-up elections to benefit from higher amortization and have to face the introduction of the digital, plastic, and sugar taxes.

On December 24, 2019, the Italian Parliament approved the Budget Law for 2020, which contains a package of tax increases and decreases with varying effective dates, described below.

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