Budget Law 2023

After a simpler approval procedure than usual, given the short time available, Budget Law 2023 was published in the Official Gazette dated 29 December. It was certainly impacted by the effects of the international context and, particularly, by the economic consequences connected to the increase in the cost of raw materials, which strained the economic sustainability of Italian companies and families.

The “Expert’s opinion” article analyses the revaluation of the cost of land, participating interests, UCIs shares, and life insurance policies, as well as the terms for the application of tax reliefs to the distribution and transfer to shareholders of real estate and movable assets recorded in public registries and not used in the corporate activity and to the transformation of joint-stock companies that manage such assets as their exclusive or main activity into partnerships. 

The “Focus on” article analyses the updates introduced by the Law concerning tax disputes, particularly the new opportunities for taxpayers to settle tax disputes under concessional terms, even in case of litigations already initiated with a court or before the Court of Cassation.