Clifford Chance

New withholding tax on indirect bond issuances

7 July 2011

The Italian government has just introduced new legislation which is intended to regulate the tax regime of indirect bond issuances, including those made by a foreign affiliate of an Italian non-listed company and guaranteed by that Italian company. The new legislation takes the form of a decree-law, that must be converted by the Parliament into law, with eventual amendments, within 60 days (if not converted, the decree would cease to produce any further effect).

Download PDF