The new Legislative Decree became effective as of 31 December 2024.Part of an ongoing broader tax reform, the Decree is aimed at amending some aspects of the Italian corporate income tax framework by specifically focusing on the elimination of mismatches between accounting and tax values as well as mitigating cases of tax arbitrage. Executive summaryLegislative Decree n. 192 of 13 December 2024 (Decree) was published in the Official Gazette on 16 December 2024 and became effective as of 31 December 2024.The Decree intends to simplify and rationalize the tax treatment of corporate reorganizations with regard to (i) tax step-up regimes, (ii)...