Proposals contained within the recently released draft of the new Italian corporate taxation legislation are likely to benefit international firms with operations based in Italy, according to experts.
The new law, set to come into force in January 2004, contains provisions to simplify and reduce the corporate tax rate by three percentage points to 33%, and provides for participation exemption on both capital gains and dividends.
Speaking to the LMG news service this week, director of the New York-based KPMG Italy Tax Centre of Excellence, Sabrina Navarra announced that:
'The new reforms represent a great opportunity for multinational companies with operations in Italy.'
.Tags: Italy | Italy
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