Europe

The recent Omnibus Decree (Decreto Omnibus) introduced an exception to the access restrictions for the Biennial Preventive Concordato (Concordato Preventivo Biennale – CPB). Previously, professionals carrying out activities both individually and through an association with colleagues were barred if the ISA (Synthetic Reliability Indices) codes differed. The new provision, effective for the 2026 tax period,

The Italian Tax Authority has released the dedicated tax code for the utilization of the tax credit (credito d’imposta) granted to companies investing in eco-friendly packaging as part of the circular economy strategy. The credit can only be used in compensation (compensazione) through the F24 form submitted via the Agency’s telematic services. The measure incentivizes

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