WSG Article: Italian Tax Authorities Clarify that UK Banks and Other Non Medium-- EU Banks Do Not Qualify for the Withholding Tax Exemption on Interest and other Proceeds from Long term Loans

Gianni & Origoni
December 28, 2021 - Italy

Italian Tax Authorities Clarify that UK Banks and Other Non Medium-- EU Banks Do Not Qualify for the Withholding Tax Exemption on Interest and other Proceeds from Long term Loans
by Francesca Staffieri

With answer to ruling no. 839 of 21 December 2021 (the Ruling 839/2021), the Italian Tax Authorities (ITA) clarify that credit institutions established in the United Kingdom (UK) cannot benefit from the withholding tax exemption on interest and other proceeds from medium-long term loans provided for by Article 26, para. 5-bis, of Presidential Decree no. 600/1973 (the Decree 600/1973).

https://www.gop.it/doc_pubblicazioni/935_qrpnmu9tzy_ita.pdf

Read full article at: https://www.gop.it/doc_pubblicazioni/935_qrpnmu9tzy_ita.pdf