On 1 April 2015 Italy issued two new black lists which were amended based on new provisions included in the Stability Law for 2015 and other developments.
CFC Black List
The black list in regard to Italy's CFC regime includes jurisdictions that:
- have a corporate tax rate that is lower than 50% of the effective rate that would apply in Italy, and
- have not entered into an agreement with Italy providing for adequate exchange of information.
Based on these conditions, Malaysia, the Philip…