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Austerity package – new regime for carrying forward of losses

|Approved Changes|Italy
Italy

As previously reported, on 14 September 2011, the Parliament approved the austerity package, which also includes a new regime for the carrying forward of tax losses for entities subject to corporate income tax (IRES) (i.e. resident companies and Italian permanent establishments of foreign companies). The new regime is summarized below.

-   Ordinary losses may be carried forward indefinitely and may be offset against …

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