OrbitaxItalian Supreme Court Holds Foreign Tax Credit May be Provided Under Tax Treaty Provisions Even if Denied Under Domestic Law Provisions
|Approved Changes|Italy
The Italian Supreme Court recently issued two decisions regarding the eligibility of taxpayers to claim a foreign tax credit in cases where the relevant income was not properly reported in the income tax return. Both cases involved individual taxpayers who sought to apply the voluntary disclosure procedure introduced in 2015 for undeclared foreign-sourced income. As a result, foreign-sourced in…
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