Tax exemption

With its answer to question no. 497 of 21/07/2021, the Tax Revenue Office specified that the exemption from direct taxes for transfers of equity investments provided for by the facilitation provision contained in art. 3, paragraph 4-ter, of the Consolidated text of inheritances and donations is applicable in the event that the beneficiary does not have the requirement of control, prior to the transfer of the equity investments in the capital company, namely, a number of shares to an extent that enables it to already hold fifty percent plus one of the votes that may be exercised in the ordinary shareholders’ meeting.