On 30 May 2018, the Italian Tax Authorities issued the implementation of the new Italian rules provided for in Article 31-quater, paragraph 1, letter c, of the Presidential Decree no. 600/1973.
In particular, the Italian Tax Authorities set out the implementation rules for the procedure to be started in order to obtain a tax adjustment from the taxable corporate income in Italy, in case of a tax issue definitively assessed by a foreign Country in accordance with the arm’s length principle, and with which a bilateral tax treaty for the exchange of information is in force.
Implementation rules for Article 31-quater of the Presidential Decree no. 600/1973