Investments from abroad

Italy is known throughout the world for its enchanting places to visit, and, fortunately, where there is tourism, investors come too.

'Professional' investors operate through companies set up 'ad hoc' in the individual country, and it is at this point that, if not well-informed and advised by the right professionals, they face a number of difficulties.

Please refer to the article below written by the lawyer Roberto Damonte and by dr. Luca Donato




Art. 8 of d.l. [Decree-Law] no. 269 of 30 September 2003, converted, with amendments, into Law no. 326 of 24 November 2003, has introduced the opportunity, for businesses that operate internationally, to avail of an international ruling procedure, particularly as regards transfer pricing, interest, dividends, and royalties. Further to the d.l. no. 145 of 23.12.2013, the ruling also refers to the preventive assessment of the requirements for the existence of a permanent establishment in the territory of the State, taking into account the criteria under Article 162, D.P.R. [Presidential decree] no. 917 of 22 December 1986, as well as under the existing Conventions against double taxation signed by Italy.
The procedure in question ends with the signing of an agreement between the Financial Administration and the business operating internationally: such agreement is binding for both parties on the matters regulated therein, for the tax period during which the agreement has been stipulated, and for four tax periods thereafter.
The provisions that give businesses operating internationally access to such procedure have been defined by an Order of the Revenue Agency Director of 23 July 2004. Such order identifies the subjective and objective requirements for access to the ruling and establishes the operating formalities for the initiation of the procedure by the taxpayer. Further to the enactment of d.l. 145/2013, which has abrogated the exclusive competence of the Revenue Agencies of Rome and Milan, new implementing provisions are probably to be issued.
After assessing the existence of the subjective and objective requirements, within 30 days of receiving the application or of completing the necessary preparatory activity, the International Ruling Office declares the admissibility of the procedure, and invites the business to appear for the relevant initiation. The procedure takes place with the presence of all parties involved.
(from the website:
The international  standard ruling with five-year agreements between the Inland Revenue and the enterprises has been approved by the Council of Ministers, on 19.9.2013 and, then, again, on 13.12.2013, to implement the Destinazione Italia [Destination Italy] Plan. The agreements are to be stipulated at the Revenue Agency, where a Help-desk will be set up, specifically for foreign investors.