The 2025 Budget Law introduced several tax measures concerning corporate income tax, banking and insurance, value added tax (VAT) and individual income tax.A step-up election for Italian participations and land is introduced as a permanent measure for nonresident entities.An alternative 20% reduced corporate income tax is introduced for 2025, together with other income tax measures for corporations.For banking and insurance companies, a compulsory carryforward mechanism is introduced with reference to deferred deductions and limitation in use of tax losses and excess of Notional Interest Deduction.From an indirect tax perspective, some changes are introduced to the Digital Services Tax and a...