Italy MOF Issues Decree on Implementing Simplified Transitional Regimes for MNEs and Domestic Groups

The Italian Ministry of Economy and Finance May 21 issued a decree on implementing the simplified transitional regimes for multinational enterprise (MNE) groups and domestic groups subject to the global minimum tax. The decree includes measures: 1) defining relevant terms; 2) explaining how MNE groups and domestic groups may utilize the simplified transitional regimes; 3) clarifying that company revenues that are held for sale and not already included in the country-by-country (CbC) reporting must be included in the calculation of total revenue for specified purposes; 4) explaining that if MNEs or domestic groups satisfy a country’s requirements to benefit from ...