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New Rules on Tax Step-up of Intangible Assets
A new law decree has introduced new opportunities to step-up certain intangible assets for tax purposes. Taxand Italy looks at the new rules.
The law has extended the cases according to which, goodwill, trademarks and intangible assets may be revaluated also for CIT purposes.
The tax step-up, that entails an increase of value to be considered for CIT purposes, requires a payment of a 16% substitute tax on the higher value.
The higher value is deductible for CIT tax purposes in 10 fiscal years (ie in ten installments).