Investment in Italy

8.8 Invoices 808.9 Transfers of business 818.10 Opting for VAT 818.11 Head-office and branch transactions 828.12 Bad debts 828.13 Anti-avoidance 828.14 Penalty regime 829. Customs and excise and import VAT 859.1 European Community law and the customs system 859.2 Customs declarations 859.3 Excise duties 869.4 Import VAT 869.5 Relations with the Italian customs authorities 8710. How to invest in Italy 8810.1 Types of transaction 8810.1.1 Share deal 8810.1.2 Asset deal 8810.1.3 Merger 9010.1.4 Demerger 9110.2 Going listed in Italy - Overview 91© 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.