The Italian government recently approved Decree-Law 203 of 30 September 2005, published in Official Gazette No. 230 of 3 October 2005, which contains urgent measures to counter tax evasion and other tax rules. Decree-Law 203 entered into force on 4 October 2005 and must be ratified by the Italian Parliament within 60 days.
One of the most important changes introduced by Decree-Law 203 refers to the participation exemption regime that applies from 1 January 2004, following the Italian tax…