"Freeing of higher values in Corporate Reorganization"
With the 2008 Finance Act, the business transfer has become a structurally "neutral" operation (not generating fiscally significant capital gains or losses), governed solely by Article 176 of the Tuir, and has been removed from the "implementation" discipline provided for by 175 of the TUIR, which was oriented solely to the conferment of controlling and associated shareholdings.
The faculty was also introduced to redeem tax misalignments deriving from spin-off and merger operations, as well as from transferring ones as renewed, through the payment of a substitute tax.
This circular focuses on the methods of exercise and the effects of the optional regime mentioned above in the light of the Ministerial Decree issued on 25 July 2008 (hereinafter the Decree) and of the Circular of the Revenue Agency n.57 / E of 25 September 2008 (hereinafter Circular).
- Business transfer
- Effect of tax neutrality
- Substitute tax regime
- Scope of application of the substitute tax
- Method of payment of the tax
- Effects of exercising the option
- Business mergers and demergers
- Forfeiture of the substitute tax regime
- Exercise of the option for past misalignments