Europe

In ruling n. 187/2026, the Italian Revenue Agency confirmed that scholarships awarded under the Erasmus Mundus Joint Masters (EMJM) program are exempt from personal income tax (IRPEF). The Agency recognized the continuity between the former Erasmus Mundus program and the current Erasmus+ framework, applying the same tax exemption rationale. The decision provides certainty for students

As of the current date, businesses that have made investments qualifying for the new hyper-ammortization (iper-ammortamento) regime can transmit the mandatory final communication (adempimento conclusivo) certifying the completion of the investment projects. This filing is a prerequisite to access the enhanced depreciation deductions (up to 270% of cost) for Industry 4.0 assets. The transmission must

The Italian Revenue Agency clarified that for the purpose of computing the Global Minimum Tax (GMT) under the Pillar Two framework, the relevant financial data is that contained in the approved financial statements of the constituent entities. Adjustments arising from the new accounting standard OIC 34 (which aligns Italian GAAP with IFRS for certain items)

The Agency confirmed that tax benefits for the acquisition of agricultural land—specifically the “small peasant property” (piccola proprietà contadina) and mountain land incentives—are not lost if the acquiring company merges into another entity within five years of purchase, provided the surviving entity remains an agricultural enterprise qualified as an IAP (Imprenditore Agricolo Professionale) and continues

Insurance companies operating in Italy are required to pay an advance contribution on premiums for motor third-party liability (RC auto) and watercraft insurance by 16 November each year, as mandated by the 2025 Budget Law. The Revenue Agency has published the specific tax codes to be used on the F24 Accise form for this payment.