Newsalert | Tax 03/04/2026

With Ruling No. 97 of 1 April 2026, the Italian Revenue Agency denied the application of the participation exemption regime to the capital gain arising from the sale of shareholdings held in special purpose vehicles incorporated for the development of battery energy storage sistyem facilities, on the grounds that the business activity requirement was not met.
In the latest newsalert, Chiomenti Professionals examined the Revenue Agency’s ruling, which appears to provide a particularly strict interpretation of the business activity requirement, confirming a substantive approach based on a concrete assessment of the activities actually carried out by the controlled company.