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Private Client & Offshore Services

28 November 2019
Simona Zangrandi Taxation of income transferred to Italian beneficiaries from non-EU resident trusts

Italy - Studio Legale Tributario Biscozzi Nobili

Since the introduction of provisions to the Income Tax Code aimed at regulating the taxation of trusts and related beneficiaries, the tax treatment applicable to income distribution from foreign opaque trusts has not been clarified by law. A new decree law has filled this legal void by providing for a new class of 'financial income', represented by income paid to Italian resident beneficiaries by non-EU trusts established in low-tax jurisdictions.

Authors: Simona Zangrandi, Franco Pozzi
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