With the publication in the Official Gazette no. 185 (S.O. no. 30) of 11.8.2026, Legislative Decree no. 148 of 7 August 2026 came into force on 12 August, containing supplementary and corrective provisions on income tax, inheritance and gifts, VAT, excise duties, controls, collaborative compliance and simplification, with varying effective dates. The most important operational measures are illustrated below.
Business income
Fringe benefit for cars in mixed use and options – The basis for calculating 50% of the conventional mileage of 15,000 km on ACI tables remains (10% for pure electrics, 20% for plug-in hybrids), but the reference to new registration is replaced by the age of the vehicle: beyond the fifth year from the first registration, the value increases by 50%. Accessories not valued in the ACI tables entail a further increase of 5%.
Differentials from the assignment or offsetting of tax credits – The positive differentials made by arts and professions on the purchase of tax credits (including building bonuses pursuant to Article 121 of Decree-Law 34/2020) constitute self-employment income subject to a substitute tax of 26%. Receivables received as consideration for a professional service are excluded.
Deductibility of stock option plan costs – Negative components recognised in the income statement for share-based payment transactions (stock options, stock grants, phantom stocks) become deductible only at the time of delivery of the instruments and in proportion to the options actually exercised. For IRAP purposes, the budget allocations remain unchanged.
Depreciation of trademarks, goodwill and intangibles with an indefinite life – IAS/IFRS subjects – The deduction, up to a limit of 1/18 of the value, is allowed only starting from the tax period in which the related costs are allocated to the income statement and within the limits of the latter, eliminating non-accounting deductions. Exceptions are provided for intra-group business transfers and for the transfer of the headquarters to Italy.
Contributions against costs for studies and research – Cash taxation is eliminated: contributions are once again taxed according to their accounting nature, as operating grants (accruals) or plant grants (based on the depreciation of the asset). A transitional regime is envisaged to avoid double taxation and tax jumps.
Entities assimilated to industrial holding companies – A prevalence test based on the income statement is now required for assimilation to non-financial holding companies: intra-group financial assets must generate revenues and income exceeding 50% of the total, according to the latest approved financial statements.
Carry-forward of business losses – Rule of authentic interpretation: the transfer of the majority of voting rights relevant for the purposes of art. 84 par. 3 of the TUIR is considered to have taken place even when it concerns the shareholdings of the company that controls the person reporting the losses. Limitations can therefore also be triggered in the event of an indirect change of control.
“Pre-merger” tax period and surpluses – It is clarified that only the limitations related to the change of control and assets apply to excess interest expenses and ACEs, not the limits of losses. It is also established that the “pre-merger” period closes on the day before the date of legal effectiveness of the transaction.
Contributions of loss-making shareholdings – The controlled realisation regime operates even when the realisable value is lower than the fiscally recognised cost of the shareholding transferred. If this value is lower than the open market value, the realisable amount is equal to the lower of the tax cost and the normal value.
Certain date for the permanent establishment statement – The income statement and assets of Italian permanent establishments of non-resident entities must acquire a certain date (time stamp or equivalent instruments) within the deadline for submitting the declaration. The obligation to report the data in a specific declaration statement is introduced.
Carry-forward of definitive foreign losses – In the event of a cross-border merger coming in from EU/EEA states, the Italian company may carry forward the losses of the foreign company, provided that there is de jure control both during the periods of formation of the losses and on the effective date of the transaction. The definitive nature of the losses is required, which can also be demonstrated during the evidentiary ruling.
Global Minimum Tax – Transposition of the OECD practice on national minimum tax, supplementary minimum tax and financial years not exceeding 53 weeks. The Side-by-Side System, the UPE Safe Harbour and the Substance-Based Tax Incentive Safe Harbour are regulated, with the optional adoption of simplified regimes.
Redetermination of the cost of black-listed shareholdings – For unlisted shareholdings in entities resident in countries with preferential taxation pursuant to Article 47-bis of the Consolidated Income Tax Act, the substitute tax on revaluation rises to 36%, without the possibility of payment in instalments. Investments in EU/EEA entities are excluded.
VAT
VAT deduction and registration of invoices – The right to deduct can be exercised at the latest with the declaration relating to the second year following the one in which it arose, with a similar deadline for the registration of invoices: the two-year limit prior to Legislative Decree 50/2017 therefore returns. The elimination of the reference to the “same year” in art. 25 unlocks the retroactive deduction for invoices at the turn of the year.
Use of electronic invoice files – The Customs and Monopolies Agency is authorized to use the XML files acquired through SdI also for risk analysis and tax and customs control activities under its jurisdiction.
Assessment, penalties and collection
Presumption of distribution of non-accounting profits – The presumption, so far of jurisprudential matrix, becomes a rebuttable legal presumption and operates only in the face of unaccounted for and undeclared positive components or non-existent negative components, with the exclusion of merely non-inherent costs or of different competence. Presumed profits are taxed in the hands of shareholders with the ordinary limitations provided for dividends.
Assessment of multi-year negative components – For the negative components of business income with multi-year effectiveness (excluding those from non-existent transactions) the assessment period starts from the declaration of the first deduction period, overcoming the orientation of the Court of Cassation. The rule does not apply to positive components, losses carried forward, tax credits and multi-year deductions.
Assessments based on unprofitability – For the purposes of income taxes and IRAP, the difference between the agreed consideration and the market value can be the basis of the assessment only if accompanied by further serious, precise and concordant elements, or if the discrepancy is manifest and significant. The provision does not mention VAT, with consequent uncertainty of application in this area.
Self-assessment of deeds transmitted with a single computer form – For real estate advertising formalities requested by parties other than public officials, the office verifies self-assessment and payments and, in the event of higher tax, notifies notice of liquidation. The taxpayer has 60 days to pay tax, interest and penalty reduced to one third.
Misalignments between POS and electronic payments – A threshold of non-punishability is introduced: no penalty if the discrepancy between stored electronic payment transactions and accepted electronic payments does not exceed 5%. The same tolerance applies to the ancillary sanction of suspension of the license or activity.