Investment in Italy

Investment in Italy5.4 EU directives, regulations and agreements relatingto direct taxationThe following EU provisions on direct taxation have been adopted by Italy.On 3 August 1985 the European Economic Interest Grouping - EEIG Regulation (No2137/1985) entered into force.On 8 October 2004 the European Company Statute (Regulation No 2157/2002) entered intoforce. Directive 2001/86/EC, supplementing the European Company Statute with regardto the involvement of employees, was implemented by Legislative Decree no. 188 of 19August 2005. On 18 August 2006 the European Cooperative Society Statute (RegulationNo 1435/2003) entered into force. Directive 2003/72/EC, supplementing the EuropeanCooperative Society Statute with regard to the involvement of employees, was implementedby Legislative Decree no. 48 of 6 February 2007.The Interest and Royalties Directive (2003/49/EC) was implemented by Legislative Decreeno. 143 of 30 May 2005.The Savings Directive (2003/48/EC) was implemented by Legislative Decree no. 84 of 18April 2005.The EU-Swiss Savings Agreement entered into force on 1 July 2005.The Mutual Assistance Directive, as amended by Directive 2003/93/EC, was implementedby Legislative Decree no. 215 of 19 September 2005.The Parent-Subsidiary Directive, as amended by Directive 2003/123/EC, was implementedby Legislative Decree no. 49 of 6 February 2007.The Merger Directive, as amended by Directive 2005/19/EC, was implemented by LegislativeDecree no. 199 of 6 November 2007.On 21 May 2008, the Italian government passed a Legislative Decree implementing theDirective on cross-border mergers of limited liability companies.For more information, please contact:Domenico BusettoPartneremail: dbusetto@kpmg.itGianni De RobertisPartneremail: gianniderobertis@kpmg.itRoberto RomitoSenior Manageremail: rromito@kpmg.it54© 2012 KPMG S.p.A., KPMG Advisory S.p.A., KPMG Fides Servizi di Amministrazione S.p.A., KPMG Audit S.p.A., Italian limited liability share capital companies, and Studio Associato Consulenza legale e tributaria, anItalian professional partnership, are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.