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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...

This edition of the Global Environment Newsletter takes a look at how Non-Governmental Organisations (NGOs) impact on project permitting, and other environmental regulatory, decisions in 10 jurisdictions: Australia, Belgium, The Czech Republic, Germany, Italy,...

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 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...

2013 marked the culmination of the FSA's Retail Distribution Review ("RDR") in the UK with new rules significantly changing the way retail investment products are marketed and sold.  The key points are: New RDR rules in force ban payments...

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...

In its decision no. 5032/2011 of 7 September 2011, the Council of State had ruled that a local authority could, subject to certain conditions, unilaterally revoke its decision to enter into certain derivative transactions, thus retroactively setting aside the...

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.