The news of the tax decree DL 84/2025
Reimbursement of travel expenses for employees and self-employed workers
The DL 84/2025 has repealed Article 1, paragraph 81, letter b) of Law 207/2024 and introduced the new paragraph 2-bis of Article 54 of the TUIR, according to which expenses, as per paragraph 2 letter b) of the same article, incurred by professionals cannot be deducted or excluded from taxable income unless they are paid through traceable means. This modification removes the coordination issues with the new Article 54 of the TUIR that arose following the changes made by Legislative Decree 192/2024. With paragraph 6-bis of Article 54-septies of the TUIR, the obligation of traceability of payments is introduced to allow the deductibility of expenses directly incurred by individuals engaged in arts and professions within the territory of the State. The new rules also apply for IRAP purposes and concern expenses incurred from 2025.
Representation expenses
The regulations regarding representation expenses and gifts have been amended, making them deductible from self-employment income only if paid through banking or postal instruments. Furthermore, such expenses, classified according to DM 19.11.2008, are deductible if they adhere to the limit of 1% of the fees received. Advertising and sponsorship expenses are exempt from this obligation. The new rules apply to expenses incurred from June 18, 2025, with the possibility of cash payment until June 17, 2025.
Financial interests and earnings
The new paragraph 3-bis introduced in Article 54 of the TUIR establishes that interest and financial proceeds received in the exercise of arts and professions are to be considered as capital income, excluding them from the formation of self-employment income. This clarification is linked to the introduction of the principle of “comprehensiveness” from Legislative Decree 192/2024. The provision will come into effect for income generated starting from the tax period ending on December 31, 2024.
Capital gains
With the inclusion of paragraph 3-ter in Article 54 of the TUIR, capital gains and losses resulting from the transfer of shares in associations and companies engaged in artistic or professional activities are now considered miscellaneous income. These incomes do not contribute to the formation of self-employment income. The capital gains from the transfer of shares held in associations and companies that carry out artistic or professional activities are now subject to a substitute tax of 26%. The new rules will apply to income generated from the tax period ending on December 31, 2024.
Reporting of tax losses, with effects on extraordinary transactions
Article 2 of Decree Law 84/2025 modifies the regime for the carryforward of tax losses in the case of extraordinary operations, rectifying the criteria for their determination in the case of contributions and transfers made in the last 24 months and extending the limits on the carryforward of losses to companies receiving business contributions. In particular, the criterion for determination based on net assets at actual values is modified, whereby in the event of contributions and transfers in the last 24 months, the carryforward losses are reduced by an amount equal to double the contributions made in the last 24 months. Moreover, the limits on the carryforward of losses are extended to companies receiving business contributions, equating their losses to those of companies involved in demergers and therefore also subject to the vitality test and the adequacy of net assets. These changes apply starting from the tax period ending on December 31, 2024.
New hires with tax deduction
The super deduction of labor costs for new permanent hires, provided for by Article 4 of Legislative Decree 216/2023, excludes connected companies from the calculation of employment growth. Initially, the provision required considering the employment reductions of connected companies as a negative factor; however, this reference has been removed. The modification is effective starting from the tax period following December 31, 2023, which means from 2024 for “solar” entities. As a result, the employment growth will only account for reductions in controlled companies.
Controlled foreign companies (CFC)
Article 4 of Legislative Decree 84/2025 modifies the CFC regime under Article 167 of the TUIR, updating the rules on the taxation of foreign subsidiaries. The most relevant changes concern: the amendment of paragraph 4-bis of Article 167 of the TUIR, which determines how the minimum national tax must be considered for the purposes of effective taxation in the state of the foreign subsidiary; the amendment of paragraph 4-ter of the same Article 167 regarding the verification of actual income, establishing a payment of 15% on the profits of foreign controlled companies; the integration of paragraph 9 of Article 167 of the TUIR, which regulates the deductibility from the controlling company’s corporate income tax (IRES) of the minimum national tax equivalent allocated to the CFC. The new provisions will apply from 2024 and will influence the completion of the tax return 2025.
Misalignment of hybrids
Article 5 of Decree-Law 84/2025 amends Article 61, paragraph 3 of Legislative Decree 209/2023 to standardize the deadline for submitting documentation for the transitional penalty protection regime for hybrid mismatches to the deadline for the 2025 tax return. Affected parties must submit the documentation by the deadline set for the tax period ending on December 6, 2024. In the 2025 tax return, possession of the documentation must be reported for both 2024 and previous periods.
Reverse charge
The 2025 budget law (L. 207/2024) modifies the scope of reverse charge in the logistics sector, extending its applicability to service performances through various types of contracts, including subcontracting, awarding to consortium members, or any other named business relationships, provided to companies engaged in the transportation and handling of goods and logistics services. The previous condition that limited the application to contracts with a predominant use of labor at the clients’ premises has been eliminated. Furthermore, the new decree-law 84/2025 introduces an optional VAT payment regime by the client, extending this option to all parties involved in the subcontracting chain.
Split payment
Starting from July 1, 2025, companies listed in the FTSE MIB index of the Italian Stock Exchange will be excluded from the split payment mechanism. This regulatory change has been introduced to align Italian legislation with EU Decision No. 1552 of July 25, 2023. In particular, Italy has been authorized to maintain split payment until June 30, 2026, but without including the aforementioned companies from July 1, 2025. The new provisions will apply to invoices issued from that date.
Income tax returns and IRAP for the tax period 2023
The income tax and IRAP declarations, whose submission deadline was October 31, 2024, can be considered timely if submitted by November 8, 2024. However, if payments were made for voluntary remediation for late submission within this period, a refund cannot be requested. Declarations submitted after October 31, 2024, but by November 8, 2024, do not allow participation in the preventive agreement for the 2024-2025 biennium.
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