EYItalian NPLs and UTPs: Conversion into tax credits of Deferred Tax Assets associated with tax losses carried forward and other deferred deductions
|Tax Alerts, Legislation & Policy, Na ...|Italy, European Union
Executive summary
On 16 March 2020, the Italian Government, to counteract the current liquidity crisis following the spread of COVID-19, approved a Decree1 that entitles companies (mainly banks and financial institutions) willing to dispose of NPLs2 and UTPs3 by 31 December 2020 to claim a partial conversion into a tax credit of the existing, although possibly unrecognized, Deferred Tax Assets…
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