The Italian government has issued a measure that implements a penalty protection documentation regime for tax-hybrid mismatches.The measure is expected to be published soon in the Italian Official Gazette and should become effective by the end of 2024.The penalty protection regime should also be available for fiscal years prior to 2024, provided that the documentation complies with the requirements laid out in the implementing measure and certain deadlines are respected. Documentation for fiscal years 2020—2022 must be prepared by the sixth month from the entry into force of the measures. Documentation for fiscal year 2023 must be prepared by the...