According to recent reports, the Italian Supreme Court issued a decision on 19 July 2023 concerning the eligibility of a French company for Italy's 95% participation exemption for gains on the sale of shares in an Italian company. The case involved a French company without a permanent establishment (PE) in Italy that sold its substantial participation in an Italian resident company in 2013, which was taxed in Italy. The French company requested a refund of excess tax paid, arguing that it sho…