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On 7 March 2013, the European Union Court of Justice (the "ECJ") released its decision in GfBk Gesellschaft für Börsenkommunikation mbH v. Finanzamt Bayreuth (C-275/11). The case concerned the VAT treatment of certain outsourced investment...

The Italian Government has signed into law the implementing decree (the "Decree") for the Italian financial transaction tax, which is now due to come into effect on 1 March (1 July 2013 as to the tax on derivatives). The Decree, which  shall be...

The European Commission today published its detailed proposal for an EU Financial Transaction Tax to be implemented under the "enhanced cooperation procedure" across France, Germany, and nine other EU Member States. If adopted, most equity, debt and...

The Italian Financial Transaction Tax (“FTT”) has been introduced by Paragraphs 491 to 500 of Article 1 of Law 228 of 24 December 2012. The legislation was to be followed by an implementing decree, whose draft has been published on the web site of...

Yesterday's ECOFIN meeting resolved to use the "enhanced cooperation procedure" to implement an EU financial transaction tax across France, Germany, and the nine other EU Member States that wish to do so. Most equity, debt and derivative transactions...

Additional details are available on the double tax treaty signed yesterday, 14 January, between Italy and Hong Kong.

The Italian Parliament has finally approved the Italian budget legislation, which introduces the Italian version of the financial transaction tax. The tax will apply on transactions of Italian shares and equity derivatives. The attached document, in factsheet...

14 January 2013 – The governments of Italy and Hong Kong have today signed a tax treaty for the avoidance of double taxation and the prevention of tax evasion and tax fraud. The treaty will now have to be ratified by the respective lawmaking bodies of...

New legislation has been enacted finally streamlining the recently introduced tax regime of bonds and similar securities (and promissory notes, cambiali finanziarie) issued by Italian unlisted companies.

New legislation approved on 21 December 2012 enacts the following new tax provisions affecting the insurance sector, which will become effective on the day after the new legislation is published in the Italian Official Gazette (the "Effective Date").