Tax Alert | 2023 Budget Law (1/4)


Additional certainty in sight for foreign investors by virtue of the introduction of the s.c. Investment Management Exemption by the Italian 2023 Draft Budget Law. The new provision is aimed at excluding – upon certain conditions - the configuration of an Italian permanent establishment of foreign investment vehicles because of the activities carried out therein by the investment managers.

Read the other alerts on the Draft Budget Law 2023: 
Substitute tax regime on profit reserves
Taxation of crypto assets
Capital gains from the sale of “real estate vehicles” by non-Italian investors