Budget Law 2021: further extension for the redetermination of the values of land and equity investments

Tax Law Update | January.05.2021

The Budget Law 2021 (Law 30 December 2020, No. 178) extended the deadlines for the optional step-up of the cost of lands and participations in unlisted Italian companies. This is the fourth extension of the terms of application of this facility over the last 12 months. The step-up of the purchase cost of the aforementioned assets will continue, also for the 2021, to be subject to payment of an 11% substitute tax.

Further analysis is available in Italian: Legge di Bilancio 2021: ulteriore proroga per la rideterminazione dei valori di terreni e partecipazioni